Coinbase has unveiled its Custody platform, which aims to provide a cryptocurrency investment tool for institutions.
In a Medium post, Coinbase CEO Brian Armstrong outlined the exchange’s approach to handling enterprise-scale investors.
Coinbase currently stores over $9-billion worth of cryptocurrency in its wallets and aims to offer a bigger storage solution to businesses – with a minimum deposit of $10 million.
“Over 100 hedge funds have been created in the past year exclusively to trade digital currency. An even greater number of traditional institutional investors are starting to look at trading digital assets,” said Armstrong.
Coinbase Custody includes support for multiple signers, audits, withdraw limits, multi-user accounts, and dedicated account representatives.
The exchange said that in certain cases it would also insure investor holdings.
Coinbase Custody will be available in early 2018.