Coinbase's $10 billion crypto plan has hit a major milestone

16 Jun, 2019
by Richard Allen
Coinbase's $10 billion crypto plan has hit a major milestone

Coinbase’s grand plan of drawing in $10 billion of Wall Street money into crypto and Bitcoin has just hit a major milestone, the exchange says.

One of the world’s leading exchanges, Coinbase has stated that its institutional cryptocurrency storage solution, Coinbase Custody has hit $1.3 billion in assets under custody, with $2 billion expected soon.

Only institutional investors with at least $10 million in deposits have access to Coinbase Custody.n Currently, the platform is supporting a total of 27 cryptocurrencies. Additionally, the company reported that 0% of the company’s clients are based within the US.

As DailyHodl reports, Coinbase has been targeting institutional investors since late last year when it launched its over-the-counter (OTC) trading desk. This form of trading allows wealthy investors to make large trades at a fixed price.

Coinbase recently announced it would be including six new European countries into its debit card program. The program allows users to link their Coinbase holdings with a physical card so it can be used for daily purchases.

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