Coinbase is ready to accept a set of world-class clients for its Custody services. These clients will include institutional investors such as leading crypto hedge funds, exchanges, and ICO teams.
According to Coinbase official website’s blog post:
Coinbase Custody’s mission is to make digital currency investment accessible to every eligible financial institution and hedge fund in the world.
Coinbase was not alone. Their announcement came after Blockchain.com launched its Blockchain Principal Strategies (BPS) trading platform, which is also targeting institutional investors.
Both moves by Coinbase and Blockchain.com, two of the known bodies in the crypto world indicates that institutional players are coming into the crypto space, which signifies a positive outlook for an overall crypto market cap