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Coinbase Custody Announces Integration


18 Mar 2019

Coinbase clients can now trade from cold storage following the integration of its OTC desk.


Clients of the US cryptocurrency exchange platform -Coinbase has received the answers to their demands. In a recent press release, the company announced that its services now have their new OTC desk. We can recall that Coinbase launched the over-the-counter desk newly. Well, they have obliged to the demands of their users with this integration. At least that’s what the company announced. This recent development implies that trading on the platform will be simpler. Instead of moving their funds online for trades, they can complete them directly offline.

Coinbase CEO Statements about the integration


 The CEO of CoinBase Sam McIngvale speaking about the recent action states that their users have been pushing for it. According to him, as soon as Coinbase launched the OTC desk, the demands for cold storage became eloquent. Many of their clients started asking for the cold storage trading capability. 

According to what the company wrote in their blog post, two teams will be in charge to ensure the success of the process. Their Custody client service and OTC teams will collaborate to create one point of contact as the client trade. This will enable clients who are initiating positions to buy over-the-counter and settle assets into Custody directly.

What clients will gain from Cold Storage trading


The introduction of cold storage trades for Coinbase clients will have many advantages. Apart from simplifying the trading process, they have other things to gain. Initially, users move their funds online to enable them trade, but the integration has eliminated such hassles. Another advantage of this development is that clients will enjoy more security as they trade online.

Before Coinbase integrated this new feature, another exchange launched the same product in January. The Blockchain security company BitGo and Genesis Trading jointly equipped clients with the capability of trading with assets in custody. Although these companies first took up the initiative, Coinbase supporters believe that they will soon surpass them.  

Let’s not forget that Coinbase clients are big shots in the crypto community. The company boasts of many large companies and institutional investors amongst others in their client base. The users of Coinbase Pro are very enthusiastic about the integration. It has presented a way to protect their funds. Instead of moving them to outside OTC desks, they can trade from cold storage. As a result, avoiding the transfer risks facing them during such transfers is now possible. This move by Coinbase will help to garner more approval from their clients.

The company comments about OTC desk


The company has stated that its OTC desk is for the agency only. According to them, all counterparts need to clear their Anti-money Laundering rules (AML) and know-your-customer (KYC) policies. Although the company puts these mechanisms that thoroughly check trading activities, it is still not enough. The exchange still insists that they will preserve anonymity for the counterparties and still guarantee settlements.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap Volume 24h
1 Bitcoin (BTC) BTC Bitcoin predictions 87.6% 18 $48 278.36 2.14% 6.79% $908 584 317 849 $28 575 630 451
2 Ethereum (ETH) ETH Ethereum predictions 74.4% 50 $3 432.02 0.99% 4.95% $403 535 591 621 $15 995 220 233
3 Cardano (ADA) ADA Cardano predictions 69.2% 67 $2.37 0.96% -9.99% $75 839 348 348 $2 117 829 213
4 Binance Coin (BNB) BNB Binance Coin predictions 67.6% 70 $410.60 1.07% 1.31% $69 036 780 561 $1 310 269 181
5 Tether (USDT) USDT Tether predictions 95.6% 1 $0.999506 -0.01% -0.15% $68 250 378 864 $60 054 280 627
6 Solana (SOL) SOL Solana predictions 56.4% 90 $169.18 14.63% -5.61% $50 219 084 924 $5 415 012 910
7 XRP (XRP) XRP XRP predictions 70% 60 $1.075668 0.94% -0.39% $50 150 029 617 $2 308 814 476
8 Polkadot (DOT) DOT Polkadot predictions 62.4% 81 $34.90 5.69% 10.33% $34 465 398 414 $1 805 117 461
9 Dogecoin (DOGE) DOGE Dogecoin predictions 65.6% 75 $0.241386 0.61% -0.02% $31 703 190 100 $999 151 515
10 USD Coin (USDC) USDC USD Coin predictions 91.2% 1 $0.999405 -0.04% -0.16% $29 361 887 022 $2 210 179 953
11 Avalanche (AVAX) AVAX Avalanche predictions 67.6% 69 $69.01 -1.32% 20.73% $15 202 502 312 $1 951 788 341
12 UniSwap (UNI) UNI UniSwap predictions 71.6% 63 $24.52 1.08% 7.89% $14 998 641 302 $295 363 721
13 Terra (LUNA) LUNA Terra predictions 65.2% 65 $34.78 1.03% -11.03% $13 972 232 863 $729 598 618
14 Chainlink (LINK) LINK Chainlink predictions 71.6% 52 $28.35 2.48% 5.04% $12 858 121 823 $1 042 724 348
15 Binance USD (BUSD) BUSD Binance USD predictions 92.8% 1 $0.999279 -0.03% -0.16% $12 804 322 830 $5 075 515 725

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