Crypto exchange Coinbase announced new Custody Service made for hedge funds, exchanges, ICO teams and private clients capable of depositing at least $10 million. The service has begun to operate last week. At the moment, the exchange holds around $20 billion in crypto and hopes to bring in $10 more million with Custody. According to the first announcement in November 2017, clients will be obligated to pay $100,000 as a set-up fee and a 10 basis point fee-per-month on the assets held. Currently the service is only available for clients in the United States and Europe, but by the end of 2018 Coinbase promises to open up for Asia, too.
The largest crypto exchange in the U.S. has just introduced its core principles for its institutional financial products.
North Star for Crypto Voyagers
Three months after Coinbase presented its suite of institutional products in May, the company has disclosed a series of "fundamental beliefs" about how the organization will run and improve its institutional investor-focused business lines.
Adam White, Coinbase's vice president and general manager, compared the five fundamental principles to their “North Star” in the blog post published on August 20.