Coinbase now providing trading and custody services to high-volume clients across Asia
Starting today, Coinbase’s professional trading and custody platforms are now available to institutional clients and high-volume businesses across the Asia region.
As part of Coinbase’s continued commitment to the international crypto community, high-volume clients across Asia will now have access to Coinbase’s flagship trading platforms for institutions, as well as our dedicated cold storage service, Coinbase Custody. As part of this rollout, we will now support inbound and outbound international (SWIFT) wire transfers, allowing Coinbase clients in Asia to fund their accounts from non-US bank holdings.
In the past 12 months, hundreds of crypto-first hedge funds have launched around the world, and many hundreds more traditional institutions such as proprietary trading firms, family offices and endowments have begun actively trading digital assets. Coinbase’s suite of professional products — Coinbase Prime and Pro, Coinbase Custody — serves these customers, along with other participants in the market, like asset issuers, crypto exchanges, and miners.
In addition to being able to deposit, withdraw, and trade USD through Coinbase Prime, clients in Asia will also have access to our widely-adopted stablecoin, USDC. Each USDC token is backed one-to-one with a US dollar, held in reserve by Coinbase. Clients can redeem USDC at any time for USD (and vice versa) on a one-for-one basis, free of charge, through Coinbase Prime.
Along with the launch of our trading platforms, we’re also offering Coinbase Custody to approved high-volume customers in Asia. Coinbase Custody is an institutional-grade service optimized for storing large amounts of cryptocurrency in a highly secure way. All assets trusted to Coinbase Custody are stored offline and protected by industry-leading security practices and insurance. For more information on Coinbase Custody, visit: https://custody.coinbase.com
We see a bright future ahead for crypto in Asia. Building on our announcement last June that Nao Kitazawa would lead our efforts in Japan, we have also recently appointed Kayvon Pirestani to head institutional sales in Asia, operating from our Tokyo office. Kayvon joins our Asia operation from our New York office, where he previously led institutional sales for the United States. He and his team will provide 24/5 client support for our range of institutional products and services.
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Author: Elliott Suthers