Coinbase has recently announced that it is in the process of expanding its products and services. The cryptocurrency exchange has announced that it is planning to do it to cater to the needs of its institutional investors. Coinbase is currently one of the largest cryptocurrency exchanges that are based in the United States.
The exchange has constantly gained worldwide recognition and is also receiving the support of many mainstream institutions. It was back in April when Coinbase even launched its stocks in the public market. This made Coinbase one of the two exchanges to have offered its stocks in the stock market, Binance being the other one.
Now, the cryptocurrency giant is aiming to gain more ground in the mainstream industry. To achieve this goal, the exchange is planning to offer new products and services to institutional investors.
The exchange has announced that it is launching Coinbase Prime, which is a prime brokerage service for institutional investors. The exchange has announced that since March of 2021, the exchange has experienced a huge influx from mainstream institutions.
So far, the exchange has observed more than 8,000 institutional investors joining the exchange. Therefore, the exchange aims to provide more services and support to institutional investors.
The exchange officials have stated that with the passage of time, they have garnered enough resources that they will be used to bring in more exposure for the cryptocurrency sector.
Although individual investors are of very high significance in driving the cryptocurrency industry to new heights. The mainstream investors have the potential to take the daily trade volumes from millions to billions in a single go.
For now, the exchange as well as the individual investors are more than satisfied with the services they are availing at the exchange. Therefore, the exchange does not have to do much when it comes to individual investors.
However, the exchange is making sure that the individual investors as well as all other investors are provided with a safe and secure platform.
Coinbase’s Vice President has also talked about the significance of Coinbase Prime and how it is going to serve the mainstream community. He stated that over time, the exchange has constantly witnessed a surge in the mainstream institutional investors’ number.
They are also getting attracted to the cryptocurrency industry because of high gains and lucrative results both in a short-term and long-term basis.
With Coinbase Prime, the teams at the exchange aim to provide institutional investors with top-notch services. Some of the services include prime services, data analytics, advanced trading, and best-in-class custody.
The Coinbase Vice President has clarified that Coinbase Prime would not be a service integrated into the Coinbase exchange. Instead, Coinbase Prime would be a separate exchange created just for the mainstream institutional investors.
The service, developed under the Coinbase Institutional brand, is separate from the exchange and aims to accommodate the increasing interest by institutional investors.