Coinbase Custody International will provide institutional-grade crypto asset storage to clients across Europe. The new entity is based in Dublin, Ireland.
Leading cryptocurrency exchange Coinbase has launched Coinbase Custody International Inc. to go ‘international’, as it aims to deliver better quality localized services across Europe and subsequently to other parts of the world.
Coinbase Custody
The company released an official statement via its blog early this morning announcing its new move to launch Coinbase Custody International Inc. which has been in incubation since last year following the company’s acquisition of an e-license to operate in Ireland, in October 2018.
The new Coinbase Custody is based in Dublin Ireland and would offer directly focused localized services to clients in Europe with more efficiency and in accordance with local laws. The company’s statement on its blog reads:
“While Coinbase Custody has served European-based clients in the UK, Switzerland, Germany, Finland, the Netherlands and more since 2018, our dedicated presence in Europe will allow us to offer these services in a completely localized way, with local staff, localized SLAs and in compliance with local laws.”
Coinbase explained the rationale behind the development, explaining that Europe does not only represent its biggest customer base, but it is also currently the fastest growing geographical segment in terms of users. Thus, the launch of Coinbase Custody has been strategically executed to meet the growing client demand.
According to the press release, the company would also transit all staking operations performed by Coinbase to Coinbase Custody. Although doubts remain about the consequences of staking, especially as regards tax in the United States, where asset holders are supposed to remunerated with digital currencies in lieu of their helping to secure Proof of Stake networks. This explains why non-American citizens are reluctant to stake with companies in the United States.
The next few months would see more plans for Coinbase Custody unfold as the newly independent company promises to roll out new products and features cementing Coinbase Custody as the “most trusted and innovative” institution for crypto storage.
Coinbase Making Strides
Barely days after announcing their commitment to better smart regulations and improving market integrity in the cryptocurrency sphere, Coinbase moves to scoop up experienced Google Executive, Surojit Chatterjee, who now is joining Coinbase as its new Chief Product Officer.
Chatterjee, who served as Google’s Vice president for eleven years, represents an intentional statement in Coinbase’s continued drive for cryptocurrency developments and innovation.
And as Brian Armstrong promised, Coinbase would continue to spearhead the creation of core products that will help drive adoption and make cryptocurrency much easier to use.
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