The rush of big money into the cryptocurrency market is continuing at full pace and reshaping the global investment landscape. Two recent examples are Coinbase’s new institutional focus and Nomura’s new venture. These stories, and much more, are in today’s edition of Bitcoin in Brief.
Also Read: NY Regulator Approves Bitcoin Cash, Zcash and Litecoin Trading
Coinbase Goes After Big Money
Coinbase, the San Francisco-based cryptocurrency exchange recently valued at $8 billion, has announced a new suite of services meant to attract more big money players such as the many new crypto hedge funds that pop up all the time. It will launch a cryptocurrency custodian in partnership with an SEC-regulated broker-dealer to a group of initial clients that include 1confirmation, Autonomous Partners, Boost VC, Meta Stable, Multicoin Capital, Polychain Capital, Scalar Capital and Walden Bridge Capital.
New offerings also include Coinbase Prime, a suite of tools specifically designed for institutions, and an institutional coverage group headquartered in New York City to provide a higher level of service to these type of clients. “There is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs,” said Adam White, Vice President and General Manager of Coinbase Institutional.
The company will also be opening a new engineering office in Chicago to continue developing Coinbase Markets, which provides a centralized pool of liquidity for all its products. Over the course of the year it is promised to introduce new features like low latency performance, on-premise data-center co-location services, institutional connectivity and access, and settlement and clearing services. “As a global leader in financial technology, Chicago welcomes innovative companies investing in our city and creating jobs for Chicago residents,” said Mayor Rahm Emanuel.
