Coinbase
Launches New Custody Entity in Ireland to Expand Institutional Efforts
Coinbase is expanding its
institutional custody business through a new entity based in Dublin, Ireland.
According to the company’s announcement the new unit, dubbed
Coinbase Custody International, will help better service institutional
investors in Europe, even though Coinbase Custody was already servicing
clients in the UK, Switzerland, Germany, and the Netherlands.
The firm could, through the new
entity, support more assets and staking services for cryptocurrencies other
than Tezos. A spokesperson was quoted as
saying:
"By offering our services from the
same region in which our clients are located, it’s our goal that they will
benefit from greater legal and regulatory clarity."
Coinbase Custody was launched
back in 2017 by the San Francisco-based cryptocurrency exchanges to serve
institutional investors. Since its launch, it reportedly surpassed $7 billion
in cryptocurrency assets under management.
