Coinbase Prime will offer advanced trading, data analytics and custody services for sophisticated and institutional investors.
Coinbase Institutional announced yesterday the unveiling of a new offering for the institutional market with the launch of the beta version of Coinbase Prime. The fully-integrated prime brokerage solution will be separate from the Coinbase Exchange and offer industry-leading custody, prime services, data analytics and advanced trading.
Coinbase Institutional is the go-to product suite for institutions and professional investors looking to gain exposure to digital assets. At the end of March 2021, the platform had $122 billion in assets and more than 8,000 clients.
Through its robust services, Coinbase Institutional aims to provide high levels of security, liquidity and performance, while Coinbase Custody provides storage solutions for over 100 assets across 15 different blockchains.
As crypto adoption has grown over the last six months, leading investors are beginning to seriously explore it, with many having already added it to their portfolios. Corporations are also starting to show more interest in adding crypto to the balance sheet, with firms like MicroStrategy and Meitu leading the way.
Coinbase Prime has been built to deliver the tools and services required to meet this new demand. Based on the feedback of hundreds of clients, Coinbase Prime aims to offer the most trusted, intuitive and seamless way for institutions to manage their crypto assets.
Over recent years, Coinbase has been acquiring businesses such as Tagomi, Xapo and skew as part of its commitment to the institutional space. Coinbase Prime will offer complex trading features, tools and reporting to meet the needs of more advanced traders.
Features of the new offering will include access to over 10 venues for deep liquidity, smart order routing and advanced algorithms to minimise market impact and slippage. Assets can be transferred seamlessly between segregated cold storage and trading balance, with access to crypto-native features like staking and governance.
Clients will also receive transparency through detailed trade cost analysis reports and concierge support from the Coinbase trading team, coverage and account management.
We have seen a trend recently of growing institutional adoption, and with the launch of products like Coinbase Prime, the necessary infrastructure is being established to bring crypto into the mainstream.
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Author: Alice Leetham