Coinbase launches international custody service 30 January 2020Dublin Reporter: Maddie Saghir
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The cryptocurrency exchange Coinbase has launched a new entity, Coinbase Custody International, which will offer its institutional-grade crypto asset storage to clients through Europe via a regional base of operations in Dublin, Ireland.
The international launch aims to meet the demands of institutional investors in Europe and beyond.
The new entity will also ensure client assets are held in a jurisdiction with crypto-friendly regulation regimes.
Additionally, Coinbase Custody International will also act as the hub for all staking activities performed on behalf of Coinbase customers.
A spokesperson for Coinbase said: “Coinbase Custody International’s mission is to provide the broadest digital asset coverage of any institutional-grade custodian.”
“Europe is our fastest growing geographic segment and our international launch is a direct result of client demand. The goal in launching Coinbase Custody International is to provide legal, regulatory, and tax clarity to our clients,” it was added.
Coinbase Custody has more than quadrupled in H1 2019, both in terms of assets stored and the number of clients served.
According to Coinbase, there is currently $1 billion under custody and it was growing at over $150 million per month in 2019.
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