Coinbase Custody acquires Xapo’s institutional enterprise, turning into the world’s largest crypto custodian


Crossing $7 billion in belongings below custody, Coinbase Custody is now the most well-liked and trusted selection for establishments to retailer cryptocurrency.

Immediately, we're asserting that Coinbase Custody has accomplished an acquisition of Xapo’s institutional businesses. This acquisition caps off a tremendous period of growth and innovation for Coinbase Custody. In just over one year since launch, Coinbase Custody has grown to over $7 billion in Property Beneath Custody (AUC) saved on behalf of greater than 120 purchasers in 14 totally different international locations, making it the most important, most globally acknowledged and most trusted institutional custodian on this planet. From the beginning, our aim has been to construct the trusted basis for institutional funding in Bitcoin (BTC) and crypto belongings usually. We’re thrilled to assist allow among the great demand for this rising asset class.

Xapo has lengthy been a pioneer within the storage of crypto belongings, main the business within the creation of safety methods which have stored their clients’ cryptocurrency secure since 2014. Xapo was based with the mission of creating Bitcoin safer and accessible. Coinbase will prolong Xapo’s legacy and convey it one more step nearer to attaining its mission.

Since 2012, Coinbase has served because the world’s onramp to Bitcoin and plenty of different cryptocurrencies. By our shopper merchandise, Coinbase has helped extra individuals expertise their first crypto transactions than every other firm. Like Xapo, we share the aim of creating Bitcoin and different cryptocurrencies accessible in a means that’s safe, secure and compliant with native legal guidelines. By the acquisition of Xapo’s institutional companies, we’re now proud to behave not solely because the gateway for tens of millions of individuals to cryptocurrency, but in addition because the world’s largest and most trusted steward of digital belongings. Xapo has been an incredible flagbearer for Bitcoin and the financial equality it may possibly supply to billions throughout the globe. We’re honored to hold this flag onward.

Trying ahead, our focus will keep on our purchasers. We work daily to supply them true peace-of-mind in realizing that their belongings are secure and accessible. Along with custody, we’re excited to discover new methods to monetize and leverage crypto belongings reminiscent of staking, borrowing towards crypto portfolios and lending crypto to trusted counterparties.

Coinbase is dedicated to serving a large spectrum of institutional purchasers together with hedge funds, household places of work, endowments and proprietary buying and selling desks as they determine to onboard crypto. Our institutional vary of merchandise offers a seamless, highly effective and compliant ecosystem for our purchasers to commerce, retailer and work together with their crypto. The suite combines entry to the world’s largest pool of regulated, verified crypto liquidity by Coinbase Pro with excessive efficiency APIs and a high-touch protection crew. Paired with entry to our international OTC trading desk and Coinbase Custody’s extremely safe and insured storage platform, Coinbase delivers the belief, safety, and efficiency wanted by buyers to commerce with confidence.

It’s with large pleasure that we welcome Xapo’s Institutional clients to Coinbase. Their legacy, information and expertise will assist to make our mission of making an open monetary system for the world a actuality.

About Xapo: Xapo is a New York DFS-regulated entity (NY Bitlicense holder) and a Gibraltar-licensed E-money establishment, that gives a multi-currency digital pockets and card that operates within the international market. Their mission is to present customers from all around the world the power to ship, obtain, spend and retailer their cash, globally and safely. Their crew worth proposition ‘Affect Globally, Work Remotely’ is represented by a workforce of over 250 crew members, who're globally distributed throughout greater than 50 international locations.

This web site could include hyperlinks to third-party web sites or different content material for info functions solely (“Third-Occasion Websites”). The Third-Occasion Websites will not be below the management of Coinbase, Inc., and its associates (“Coinbase”), and Coinbase shouldn't be chargeable for the content material of any Third-Occasion Website, together with with out limitation any hyperlink contained in a Third-Occasion Website, or any modifications or updates to a Third-Occasion Website. Coinbase shouldn't be chargeable for webcasting or every other type of transmission obtained from any Third-Occasion Website. Coinbase is offering these hyperlinks to you solely as a comfort, and the inclusion of any hyperlink doesn't suggest endorsement, approval or advice by Coinbase of the positioning or any affiliation with its operators.

Until in any other case famous, all photos supplied herein are by Coinbase.

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