Four new Coinbase products are being launched by the popular exchange with the hopes that they will attract institutional investors into the cryptocurrency market.
The four new Coinbase products are designed to solve the biggest issues that institutional investors cite as keeping them from fully entering cryptocurrency, reports CNBC. The products are Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group, and Coinbase Prime.
Four New Coinbase Products:
Coinbase Custody
The Coinbase Custody product is looking to solve the issue of security. In the institutional universe, the fiat currency that is stored in banks is insured. However, in the world of cryptocurrency, there is no such guarantee. Lost or stolen crypto funds will likely never be recovered, and this puts institutional investors on edge.
Coinbase Custody will act as an SEC-regulated cryptocurrency storage space. Already, Coinbase stores over $20 billion worth of cryptocurrency for its customers – now, Coinbase Custody will be the specific product in charge of this, partnering with an SEC-regulated broker-dealer.
Coinbase Markets
Coinbase Markets will be Coinbase’s elecTron (available on Binance)ic marketplace. It will act as a centralized pool of liquidity for all of Coinbase’s products.