Crypto exchange Coinbase launches new features and services for institutional clients
Crypto exchange Coinbase is introducing new features and services for institutional clients in Asia and Europe.
In an online post dated January 22, Coinbase announced that high-volume Coinbase Pro and Prime customers in Asia and Europe will now be able to fund their Coinbase accounts using cross-border wire transfers.
Importantly, for customers in countries where fiat rails are not available, Coinbase said that it will support inbound and outbound SWIFT transfers from non-US bank accounts.
“This new feature will allow Coinbase customers in many countries throughout Asia and Europe to access Coinbase’s deep pool of crypto liquidity for the first time. Paired with our widely-adopted stablecoin, USDC, traders will potentially have exposure to a wide variety of trading pairs,” it said.
Select customers will also be able to utilize other services including its cold storage-as-a-service platform ‘Coinbase Custody’ and the recently launched over-the-counter (OTC) trading desk.
Launched around mid-2018, Coinbase Custody provides secure storage of crypto assets for institutions in both the US and Europe. The exchange said that it is now rolling out the service in Asia and EMEA region.
The OTC trading desk, targeted at institutional clients, was launched in November 2018. Coinbase Head of Sales Christine Sandler said at the time that the OTC business was launched “as a complement [Coinbase’s] exchange business because we found a lot of institutions were using OTC as an on-ramp for crypto trading.”
