Big Coinbase Announcement | Coinbase Custody is Officially Open For Business

As you all know BTC Pumped up 300$ 6300 to 6700 in few minutes with Volume after the Announcement and $14Billion fresh money added quickly in Total Market Cap After Change in Trend soon we will see more Bullish News.

So Lets Begin.

Coinbase's institutional product has begun accepting deposits, the exchange announced Monday.

Coinbase Custody, aimed at institutional hedge funds and other clients who can deposit a minimum of $10 million, accepted its first deposit last week, the company announced on Twitter. Now, the new service is live for all customers.

Last week, Coinbase Custody accepted its first deposit. Today, coinbase is proud to announce that they are officially open for business. Over the coming weeks, They will continue on-boarding a set of world-class clients that includes leading crypto hedge funds, exchanges and ICO teams.

First announced in November 2017, Coinbase Custody's clients will pay $100,000 as a set-up fee and a 10 basis point fee-per-month on the assets being held.

Coinbase Custody’s mission is to make digital currency investment accessible to every eligible financial institution and hedge fund in the world. Coinbase will achieve this by striving to become the most trusted and easiest-to-use crypto custody service available. Coinbase Custody is a combination of Coinbase’s battle-tested cold storage for crypto assets, an institutional-grade broker-dealer and its reporting services, and a comprehensive client coverage program.

Crypto asset security

Over the past six years, Coinbase has pioneered leading crypto storage techniques and is currently responsible for the custody of more than $20 billion in crypto assets. Coinbase Custody builds on this expertise to offer a brand new, independent solution for Coinbase institutional customers. This new cold storage system has undergone rigorous penetration testing and cryptographic design review, and Coinbase plan further, regular third-party examinations to ensure the platform’s ongoing security.

Coinbase Custody’s unique features include:

On-chain segregation of crypto assets
Split, offline private keys that require a quorum of geographically distributed agents to use cryptographic hardware to sign transactions
Multiple layers of security
Robust cold storage auditing and reporting
A custody offering through a regulated, institutional broker-dealer
Coinbase Custody leverages the expertise and systems of Coinbase partner Electronic Transaction Clearing (ETC). ETC is a SEC-registered broker-dealer and FINRA member subject to regulated financial reporting and independent audits.

What’s coming next
Coinbase Custody provides secure storage of crypto assets for institutions in both the US and Europe. Before the end of the year, Coinbase hope to bring this offering to Asia as well.

Additionally, over the coming months, pending regulatory notifications, Coinbase will be focused on building the features and services that our institutional clients want.

Support for more crypto assets
Coinbase Custody currently supports BTC, ETH, LTC and BCH and planing to continue adding support for new assets and will offer regular updates.
Flexible access to funds
On top of Coinbase Custody’s cold storage, They will add secure, segregated hot wallets and scheduled withdrawals for maximum flexibility.
Crypto-first features
Longer-term, Coinbase already thinking about how to securely enable our clients to participate in the crypto ecosystem through proof of stake and distributed governance. They look forward to partnering with our clients to bring these features to market.
As crypto continues its maturation as an asset class and more institutions enter the space, Coinbase is committed to delivering products and services that are tailored to their unique needs. Coinbase Custody delivers the trusted storage service that Coinbase clients need to fully immerse themselves in the potential that crypto assets provide. Coinbase look forward to delivering more offerings over the coming months.

Should the licenses be approved, Coinbase will be able to begin offering securities on top of its current products.

According to my Knowledge Bitcoin ETF is also Possible in Coming Months

Coins to Pickup after this Big Announcement

Retail investors may not allow to drop the market
Until see the profit
I think it’s the time to accumulate the top 5 coins
According to Coinbase ,BTC weightage is high,followed by ETH
That’s why BTC pumped
We need to accumulate the alt coins which grow with BTC
I bet ONT is one of the alt coins
Bitcoin:63.47%
Ethereum:26.68%
Bitcoin Cash:7.15%
Litecoin:2.7%
This is Coinbase index fund weightage

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