US Crypto Exchange Giant Coinbase Signs Huge Deal With Investment Firm BlackRock

August 4, 2022 The Daily Hodl

Coinbase Custody Adds Support for 16 Altcoins, Including 13 Ethereum-Based Tokens

June 10, 2022 The Daily Hodl

Coinbase Custody Adds Support for Eight Small-Cap Altcoins As Crypto Markets Stall

June 2, 2022 The Daily Hodl

Little-Known Altcoin Surges 143% As Coinbase Announces Surprise Listing

June 2, 2022 The Daily Hodl

Crypto Exchange Giant Coinbase Offers Custody Support for Six Little-Known Altcoins, Including Four DeFi Tokens

April 29, 2022 The Daily Hodl

Europe’s Largest Telecom Provider Chooses to Leverage Coinbase Custody to Stake CELO Tokens

August 9, 2021 Bitcoin.com

Deutsche Telekom to store Celo tokens on Coinbase Custody

August 9, 2021 Coin Telegraph

Celo

Europe’s largest telecoms company by revenue has tapped Coinbase Custody for its Celo tokens.

Coinbase Custody, the crypto custodial solution offered by United States exchange giant Coinbase, has been chosen by Deutsche Telekom to store its Celo tokens.

According to a release issued on Monday, the telecoms giant identified the robust security protocols offered by Coinbase Custody as a major reason for choosing the service.

Deutsche Telekom invested in Celo back in April, becoming the first telecom member of the Celo Alliance for Prosperity. Apart from making a “significant purchase” of Celo tokens, Deutsche Telekom’s T-Systems MMS subsidiary also became a validator on the mobile decentralized finance Celo network.

As previously reported by Cointelegraph, United States-based venture capital behemoth Andreessen Horowitz, aka a16z, delegated its Celo assets to T-Systems MMS. At the time, Katie Haun, general partner at a16z, stated that both companies had similar visions about the ability of the Celo project to disrupt the global payment sector.

Deutsche Telekom’s selection of Coinbase Custody comes after the latter secured approval from Germany’s Federal Financial Supervisory Authority back in June. Indeed, Coinbase became the first crypto exchange to be granted such a license in the country following the news.

Custody has always been a focal point of the discussion surrounding broad-based institutional adoption of crypto. Legal requirements in many jurisdictions often mandate regulated entities to store assets with recognized custodians.

Banks and other financial institutions are increasingly making their first forays into the crypto space by leveraging their standing with regulators to offer cryptocurrency. This trend is in addition to the custodial services offered by regulated exchanges such as Coinbase and Gemini.

Fintechs and tech companies, in general, are also making forays into the crypto custody space. Back in June, Twitter and Square CEO Jack Dorsey revealed that the latter was developing a Bitcoin (BTC) hardware wallet.

Indeed, given the maturing crypto custody space, attention has begun to shift to onboarding major institutional players such as retirement funds and sovereign wealth management funds.

Coinbase Says Interest From Pension Funds and Hedge Funds Has Skyrocketed, Institutional Holdings Soar 170%

June 9, 2021 Bitcoin.com

Coinbase Institutional selected by Meitu for landmark treasury allocation into Ethereum and Bitcoin

March 24, 2021 Coinbase

By Kayvon Pirestani, Head of APAC Institutional Coverage

One of the latest companies to diversify their corporate balance sheets with crypto is Meitu, Inc. The Hong Kong-listed (1357-HK) consumer tech company, known for its wildly popular selfie and photo community apps used by millions around the globe, recently purchased both Bitcoin and Ethereum.

Coinbase Institutional was selected as the sole partner for both trade execution and custody on both their initial and second allocations, for a combined total of US$90m of BTC and ETH. Meitu was able to utilize our sophisticated algorithmic execution and smart order routing tools, along with the execution planning services of our high-touch agency-only OTC trading desk to execute these transactions across multiple marketplaces with minimal market impact. The purchased assets were then transferred into the secure offline cold storage of Coinbase Custody, a qualified custodian providing maximum security and meeting the industry’s highest regulatory standards.

Meitu joins a long list of companies that Coinbase Institutional continues to help diversify with crypto including Microstrategy and other corporations. However, Meitu has made a unique case, not seen widely yet, on allocating a significant portion to ETH.

“Cryptocurrencies are not new but acquiring cryptocurrencies as a listed company, while ensuring the security of the transaction and storage as well as compliance of various regulations and audit requirements, is still like navigating through uncharted waters,” said Gary Ngan, Chief Financial Officer of Meitu. “We are grateful that the Coinbase Institutional team has made this a very smooth sail with their cutting-edge technology, professional execution, and undivided client focus.”

We believe that Coinbase is one of the most trusted places for companies to trade and store digital assets with good security measures set up, leveraging years of experience managing our treasury position in digital assets. We’ve used this experience to build a new resource to help answer the tough questions corporate leaders may be asking. In this detailed FAQ, we answer tax, accounting, regulatory, and compliance questions as well as including a set of talking points for investor relations.

To learn more about Coinbase Institutional, prime broker services, white label brokerage services, custody, or OTC trading, click here.

To read more about the rise of the Ethereum economy, read more here.

Coinbase Institutional selected by Meitu for landmark treasury allocation into Ethereum and Bitcoin was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

Crypto-collateralized loans may soon bring new investors to space

March 23, 2021 Coin Telegraph

Banks

"Traditional lending services generally do not exist in the digital currency industry, which means there aren’t many lenders for investors to choose from,” said Jon Melton.

Institutional investors will soon be able to receive Bitcoin-collateralized U.S. dollar loans through Silvergate Capital Corporation — the holding company of pro-crypto institution, Silvergate Bank.

According to an announcement from Silvergate, Coinbase Custody will be the custodian for loans funded through the bank’s Silvergate Exchange Network, or SEN. The network will provide access to capital through U.S. dollar loans collateralized by Bitcoin (BTC) while Coinbase holds the crypto in cold storage.

"Traditional lending services generally do not exist in the digital currency industry, which means there aren’t many lenders for investors to choose from," said Jon Melton, Silvergate director of digital asset lending. "Our relationship with Coinbase Custody offers institutional investors increased access to capital efficiency so they can take advantage of market opportunities in the digital currency industry."

Silvergate will offer loans starting at $5 million with an initial 12-month term. Such loans could augment or replace traditional funding rounds for firms looking to enter the crypto space.

Since first announcing it would explore offering crypto-collateralized loans in 2019, Silvergate’s annual revenue has more than tripled, from $30 million to $91.5 million. The bank said at the time that its clients had significant interest for Silvergate "to be involved in the custody and transfer of digital assets between customers."

In the fourth quarter of 2020, CEO Alan Lane said the bank would be expecting “increased demand” for these loans in 2021. Though the number of digital currency deposits grew by $2.9 billion over the same period, the price of Silvergate Capital Corporation stock has been volatile in the first quarter of 2021, reaching an all-time high of $176.27 on Feb. 16 but falling 40% within three weeks. At the time of publication, NYSE:SI is valued at $148.90.

coinbase custody