COINBASE CUSTODY IS NOW LIVE, BUT WILL INSTITUTIONAL INVESTORS ACTUALLY USE IT?

Article written by: GEORGI GEORGIEV

BRINGING IN BIG MONEY

Coinbase Custody is a service which provides secure storage for crypto-assets for eligible financial institutions and hedge funds across the world. The service has officially accepted its very first deposit and it is now live for investors in the US and Europe.

Formally, Coinbase Custody was introduced in May, when the San Francisco-based exchange announced a suite of tools aimed at facilitating institutional investors. Its emphasis is placed on security as, supposedly, the new cold storage system has gone through a cryptographic design review and thorough penetration testing. An official blog post describes the service as a “combination of Coinbase’s battle-tested cold storage for crypto assets, an institutional-grade broker-dealer and its reporting services, and a comprehensive client coverage program.”

Coinbase Custody requires a minimum balance of $10 million. There is a setup fee of $100,000, as well as 10 basis points fee charged monthly.

Read the whole article here: http://bitcoinist.com/coinbase-custody-is-now-live-will-institutional-investors-use-it/

What do you think of Coinbase’s Custody service?