Coinbase Custody International Launches In Europe To Serve Institutional Investors Globally
Coinbase Custody International Inc. officially launches offering institutional grade cryptocurrency services to international clients.
Today we’re announcing the launch of Coinbase Custody International. Based in Dublin, Ireland, the new entity will offer the same industry-leading crypto asset storage that has made Coinbase Custody the world’s leading and most trusted crypto custodian. https://t.co/mh7cLqsadL
— Coinbase Custody (@CoinbaseCustody) January 30, 2020
In an official statement on the Coinbase blog, the largest cryptocurrency exchange in the US announced the launch of Coinbase Custody International, based in Dublin, Ireland. According to the blog post, the company said the increasing client demand for institutional grade investment in digital assets is the reason that motivated the custodian to move to Europe.
Coinbase Custody received their Dublin operation license in late 2019, enabling them to offer localized services to users in Europe and abiding by the regulation in the area. The company aims to boost their overall global reach in custodial services, extending their $7 billion USD stash in users’ assets. The post reads,
“Europe is our fastest growing geographic segment and our international launch is a direct result of client demand. By offering our services from the same region in which our clients are located, it’s our goal that they will benefit from greater legal and regulatory clarity.”
The Dublin based organization will employ local staff, and will offer Europeans a highly regulated product in line with digital asset laws in the area.
Coinbase Custody International to handle all staking services
According to the announcement, Coinbase Custody Int’l will also handle all of the staking businesses on Coinbase. A number of coins have on boarded the custodial “staking” service with Tezos (XTZ) being the largest staking coin in its wallets. In November last year, the exchange announced the custodial will introduce institutional grade investing for the XTZ token for international clients as the company battles to remain top in the field. Coinbase Custody states in the blog,
“Coinbase Custody International’s mission is to provide the broadest digital asset coverage of any institutional-grade custodian.”
The custodial service has been in Europe since 2018 with customers ranging from a number of countries including the UK, Switzerland, Germany, Finland, and the Netherlands. While the international wing will concentrate heavily on Europe as its fastest growing region in adoption, more countries will be added to the custodial services in due time.