Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Coinbase => Topic started by: sirty143 on August 04, 2018, 06:42:42 AM
-
As cryptocurrency becomes more mainstream, pension funds and other big institutions are seeking to add it to their portfolios. This represents a potential opportunity for investors but also a new business line for the likes of Coinbase, which charges funds to be the custodian of their crypto assets.
On Friday, Coinbase announced it is exploring plans to expand its custody service to include 40 more assets, including XRP, which is the third biggest cryptocurrency by market cap.
Institutional funds are required by law to use a custodian to hold their assets and protect them from theft. In return, the custodians charge a fee to keep the assets secure.
More, http://fortune.com/2018/08/03/coinbase-custody/