Coinbase’s focus on attracting interest from bigger financial
institutions started sometime last year, when general manager
Adam White announced the company’s intentions to build out a
future custodian service.
“When we speak with [financial] institutions, they tell us that
the number one thing preventing them from getting started is
the existence of a digital asset custodian that they can trust
to store client funds securely,”
White wrote in a Medium post.
Already, the company’s tailor-made security offerings
have snagged partnerships with cryptoasset investment firms
like Walden Capital and Boost VC.
“Our goal is to invest in the
emerging digital asset space,” Coinbase Custody product
lead Sam McIngvale told Business
Insider. “We see ourselves as hoping to bring the
infrastructure that’s needed, and bring more investments to the
While McIngvale said that the
company’s offerings might not yet be ready to bring on
traditional heavyweight Wall Street investors, he did say that
in the future, Coinbase hopes to attract a number of various
Coinbase isn’t the only cryptocurrency platform that’s hoping
to make its mark on the established financial market.
Platforms like Gemini and Circle
have also introduced iterations of their platform focused
on handling bigger deals, which means that there might be more
in store for big institutions looking to enter the crypto
market in the near future.