{"id":21856,"date":"2018-07-02T17:31:15","date_gmt":"2018-07-02T17:31:15","guid":{"rendered":"http:\/\/ci027cfe6e60042697"},"modified":"2018-07-02T17:31:15","modified_gmt":"2018-07-02T17:31:15","slug":"coinbases-new-custody-service-opens-its-doors","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/coinbases-new-custody-service-opens-its-doors","title":{"rendered":"Coinbase\u2019s New Custody Service Opens Its Doors"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/coinbases-new-custody-service-opens-its-doors.jpg\" title=\"\"><\/figure>\n<p>On July 2, 2018, Coinbase officially launched Coinbase Custody. After accepting its first trial deposit last week, the newly introduced custodial service is up and running.<\/p>\n<p>\u201cToday, we\u2019re proud to announce that we\u2019re officially open for business,\u201d Coinbase Custody\u2019s Product Lead Sam McIngvale writes in a <a href=\"https:\/\/blog.coinbase.com\/coinbase-custody-is-officially-open-for-business-182c297d65d9\" target=\"_blank\" rel=\"noopener\">blog post<\/a>. \u201cOver the coming weeks, we\u2019ll continue on-boarding a set of world-class clients that includes leading crypto hedge funds, exchanges and ICO teams.\u201d<\/p>\n<p>The newest addition to Coinbase\u2019s suite of products, the service is catered toward institutional investors and big spenders. Its goal is \u201cto make digital currency investment accessible to every eligible financial institution and hedge fund in the world.\u201d<\/p>\n<p>Coinbase Custody will offer its clients cryptocurrency cold storage options, \u201cinstitutional-grade broker-dealer\u201d services, and asset coverage. Coinbase Custody will also make use of the \u201cexpertise and system\u201d offered by Electronic Transaction Clearing\u2019s (ETC), a FINRA member and SEC-compliant broker-dealer, the blog post states.<\/p>\n<p>From the start, Coinbase Custody\u2019s services will only be available to American and European institutions, though the company hopes to expand its offering into Asian markets as well. Additionally, the services require a minimum $10 million deposit and a $100,000 initiation fee.<\/p>\n<p>The service currently supports bitcoin, ether, litecoin and bitcoin cash, but Coinbase plans to \u201ccontinue adding support for new assets and will offer regular updates.\u201d While customers will have to settle with cold storage custodial options for now, Coinbase also plans to expand its options to include hot storage and \u201cscheduled withdrawals for maximum flexibility.\u201d<\/p>\n<p>Coinbase Custody goes live just a few weeks after Coinbase launched its <a href=\"https:\/\/bitcoinmagazine.com\/articles\/new-coinbase-additions-ethereum-classic-and-crypto-index-fund\">index fund<\/a>. Both services are part of Coinbase\u2019s wider initiative to expand its suite of products and services, which also includes rebranding GDAX, the company\u2019s exchange, as Coinbase Pro and adding Ethereum Classic to its list of assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On July 2, 2018, Coinbase officially launched Coinbase Custody. After accepting its first trial deposit last week, the newly introduced custodial service is up and running.<\/p>\n","protected":false},"author":3468,"featured_media":21857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[190,443,302],"class_list":{"0":"post-21856","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-coinbase","9":"tag-cold-storage","10":"tag-custody"},"author_data":{"id":3468,"name":"Aaron Van Wirdum And Colin Harper","nicename":"aaron-van-wirdum-and-colin-harper","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/88b6c65a7515990786b1c04473e15469e5b0d0fffef947ed629a60854e1cb426?s=96&d=robohash&r=g"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/coinbases-new-custody-service-opens-its-doors.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3468"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=21856"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/21856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/21857"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=21856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=21856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=21856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}