Coinbase launches custody for cryptocurrencies but is still looking to partner with traditional custodians.
Cryptocurrency exchange giant CoinBase is looking to launch its own custody offering in a bid to make trading digital assets just like any other financial product for institutional investors, and part of the platform’s plans involve teaming up with traditional custodian banks.
The internet may not be able to handle vast amounts of crypto transactions, according to the Bank for International Settlements claims.
Many institutional investors have held back from large-scale investing in cryptocurrencies, largely because of a lack of certainty around the storage and security of digital assets.
State Street have previously voiced their interest in providing custody services to crypto assets.