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Thai Stock Exchange to Launch Cryptocurrency Platform Next Year
The Thai Stock Exchange (SET) is planning on rolling out a cryptocurrency platform sometime in 2020. According to SET’s official press release yesterday,...
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Trading with Crypto Exchanges and Crypto CFDs
CFD could be a very foreign word for a crypto trader, but for traditional market traders, it is one of the most useful...
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Galaxy Digital CEO, Mike Novogratz Reportedly Invest $5 Million in the Firm
Amid the bearish market that dominated the cryptocurrency market last year, Michael Novogratz, the CEO of Galaxy Holdings isn’t showing any signs...
Houbi Set to Launch First EOS Dedicated Crypto Exchange
Third largest cryptocurrency exchange by volume Houbi is set to launch the firm’s first cryptocurrency exchange that will be solely dedicated to...
Bitmain Reportedly Fires All BCH Developers Citing Redundancies
There has been a huge shakeup at Bitmain as the cryptocurrency mining giant has reportedly sacked its staff of Bitcoin Cash (BCH)...
Bakkt Bitcoin Futures Market Launch Faces Possible Delay
The proposed January launch for the much awaited Bakkt exchange may have had another setback as Intercontinental Exchange (ICE), the parent company...
Coinbase Announces Support for Crypto-to-crypto trading services for Retail Traders
In another recent upgrade, Coinbase one of the leading crypto trading platforms, has announced that users can now start trading cryptocurrencies directly...
Govs & Banks
Big product announcement by Coinbase – heading for the BIG
One of the most recognized crypto exchange Coinbase has unveiled today 15th of May their plan to attract big institutions into the cryptocurrency and blockchain world. With the offering of a couple of products like “Coinbase Prime” that will target the institutional investors with sophisticated trading and data tools. This new trading platform will be separate from their well known GDAX exchange. Their general manager Adam White has stated: “At Coinbase, we welcome these developments as they help accelerate the world’s adoption of cryptocurrency by bringing new capital, greater awareness, and additional infrastructure to the space. This movement requires institutional grade products and services, something Coinbase has been developing with leading institutions and which we are proud to formally launch today”. Another product that was announced was “Coinbase Markets”. It is the company’s brand new electronic marketplace that will be managed from their new Chicago office. This will provide a centralized liquidity pool, putting all of the company’s products in one place. “In the past few months, over 100 hedge funds announced plans to trade and invest in cryptocurrency, signaling heightened interest from institutional clients and financial services professionals for a source of liquidity and custody for their digital assets” the company has stated. Officially has been confirmed that the company is launching the Custody service in partnership with ETC, which is a SEC-regulated broker-dealer. This service provides a special level services to enable institutions to keep their coins with Coinbase. It is an effort to go beyond and offer a higher standard of service in the level of what institutions require. “We have leveraged our experience safely storing more than 20 billion dollars of cryptocurrency to create Coinbase Custody, the most secure crypto storage solution available,” said Coinbase’s general manager Adam White in their statement blog. And the last but not least is the Coinbase Institutional Coverage Group. This product was designed for special type of customer service that banks need. This group will be operated from Coinbase’s New York City office. These announcements from Coinbase come at a special time when big banks like Goldman Sachs have been making prepares to launch their attack into the crypto sphere. For companies like Coinbase this is a clear sign that they also need to step up their game and build all of the necessary tools and infrastructure to accommodate the needs of the big players in the traditional finance sector. There have been also attempts of others like Circle. A small firm that offers new and inventive products called block trading which is a tool for helping institutions to make large transactions. There is also the Robinhood app, a popular choice for millennials that very recently had announced their big plans for transforming the cryptocurrency trading experience and bringing it to a whole other level. The statement of Adam White the general manager of Coinbase also confirms this: “We think this can unlock 10 billion dollars of institutional investor money sitting on the sideline. We are seeing a rapid increase in attention awareness and adoption in the cryptocurrency market.”
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