Coinbase Expects to Soon Hold Custody for $2 Billion in Crypto

Coinbase Expects to Soon Hold Custody for Billion in Crypto" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?w=1200&ssl=1 1200w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?resize=300%2C168&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?resize=768%2C429&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?resize=1024%2C572&ssl=1 1024w" data-lazy-sizes="(max-width: 1200px) 100vw, 1200px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?fit=1200%2C670&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" /> Billion in Crypto" data-lazy-srcset="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?w=1200&ssl=1 1200w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?resize=300%2C168&ssl=1 300w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?resize=768%2C429&ssl=1 768w, https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?resize=1024%2C572&ssl=1 1024w" data-lazy-sizes="(max-width: 1200px) 100vw, 1200px" data-lazy-src="https://i1.wp.com/sudan4tech.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto.png?fit=1200%2C670&ssl=1&is-pending-load=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" />



Coinbase Expects to Soon Hold Custody for Billion in Crypto" style="margin-bottom: 5px;clear:both;max-width: 100%" data-recalc-dims="1" data-lazy-src="https://i2.wp.com/bitcoinnews.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto-850x491.png?resize=850%2C491&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7"> Billion in Crypto" style="margin-bottom: 5px;clear:both;max-width: 100%" data-recalc-dims="1" data-lazy-src="https://i2.wp.com/bitcoinnews.com/wp-content/uploads/2019/06/Coinbase-Expects-to-Soon-Hold-Custody-for-2-Billion-in-Crypto-850x491.png?resize=850%2C491&is-pending-load=1#038;ssl=1" srcset="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7">

Some USD 1.3 billion in digital assets now sit under the care of Coinbase Custody, and if the custodial services firm is to be believed, this will soon reach USD 2 billion in total assets under custody (AUC). A statement from the company reads:

“We have $1.3bn AUC and expect to hit $2bn soon. We have no intention of stopping there. […] Coinbase Custody services over 90 clients. Of those, approximately 40% are outside of the US.”

A Twitter thread published last week by the official Coinbase Custody account reveals this figure, shortly after a visit to the UK from its CEO Sam McIngvale and chief information security officer Philip Martin, which was “to discuss the institutional cryptoeconomy with a range of prospects and clients”.

At the meeting, the firm reportedly considered itself an institutional grade offering, despite there being none in the crypto space yet. Its services are insured, regulated and secure, it says, justifying this claim.

Coinbase Custody considers crypto a maturing asset class, and along the journey to full maturity, fintech hubs such as London are attracting the very best in crypto innovation.

Mid last month Coinbase CEO Brian Armstrong had stated a figure of USD 1 billion AUC, though rising Bitcoin valuation since then should likely explain the USD 300 million increase.

 

BitcoinNews is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews: https://t.me/bconews

Image Courtesy: Pixabay

The post Coinbase Expects to Soon Hold Custody for $2 Billion in Crypto appeared first on BitcoinNews.com.





Source link