Coinbase Expands institutional services and announces custody for Samsung Wallet USDC
BIBIBI
AT A GLANCE
Coinbase Expands institutional services and advances USDC custody and the integration of Deribit.
Article
Coinbase Expanding institutional services, betting that banks are both rivals and major clients
PANews October 8 reported that, according to Bloomberg, the US crypto exchange Coinbase is expanding its services for traditional financial institutions to capitalize on the growth of institutional crypto adoption.Coinbase Institutional head Liz Martin said that prime brokerage is one of the company's fastest-growing businesses. On Thursday, the company announced that it would use Coinbase Prime to custody Circle's USDC stablecoin balance in Samsung Wallet,USDC will become the default USD stablecoin for the payment service, with the US market expected to launch by the end of this month; on Wednesday, it also announced the completion of its integration of Deribit, connecting liquidity between the US and international crypto derivatives markets. Over the past 1 years, Coinbas...
Key points
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PANews said that, according to Bloomberg,Coinbase is expanding its services for traditional financial institutions.
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Coinbase Institutional head Liz Martin said that prime brokerage is one of the company's fastest-growing businesses.
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Coinbase announced that it would use Coinbase Prime to custody Circle's USDC balances.
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reported that USDC will become the default USD stablecoin for the payment service, with the US market expected to launch by the end of this month.
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Coinbase also announced the completion of its integration of Deribit, connecting liquidity between the US and international crypto derivatives markets.
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The headline says that banks are both Coinbase rivals and major clients.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Institutional services are crypto-related services provided to traditional financial institutions. Prime brokerage generally refers to supporting services such as trading and custody provided to institutional clients. Stablecoin USDC will be arranged for payment services related to Samsung Wallet, while the integration of Deribit involves connecting liquidity between the US and international crypto derivatives markets.
Why it matters to readers
If the relevant arrangements proceed as planned,Coinbase may reach more traditional financial institutions,USDC and may also enter new payment scenarios; however, the current evidence does not provide specific customer counts, trading volumes, or revenue data.
This news simultaneously concerns institutional crypto services, stablecoin payments, and crypto derivatives, showing that crypto platforms are expanding their businesses beyond trading.
Risks and unknowns
The original text is truncated at “Over the past 1 years, Coinbas...,” so the subsequent background and details cannot be verified.
The content is PANews' relay of a Bloomberg report, and Bloomberg's original article cannot be verified based solely on the excerpt.
Whether the US market will officially launch by the end of this month has not yet been confirmed by the evidence.
The evidence does not specify the prime brokerage business's revenue, customer count, or trading volume.
The evidence does not indicate whether liquidity has actually improved following the integration of Deribit.
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Related concepts
Institutional services
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