Coinbase, a leading cryptocurrency exchange platform in the US, has taken another massive step to support their institutional clients and high-volume business across Asia. The platform announced today that they have opened their doors to professional trading and custody platforms for institutional clients and high-volume customers in Asia.
On their official blog post, the exchange stated that their clients across Asia can now access the platform’s trading services for institutions, cold storage service, and Coinbase custody. In order to achieve this, the platform will “now support inbound and outbound international [SWIFT] wire transfers, allowing Coinbase clients in Asia to fund their accounts from non-US bank holdings”. They added that this feature will help their non-US customers to access the platform’s deep pool of cryptocurrency liquidity.
The exchange further stated that they will also be providing these high-volume customers in Asia the access to trade, deposit and withdraw Circle’s stable coin, USDC via Coinbase Prime, allowing customers to access several trading pairs available on the platform. Additionally, approved high-volume customers in Asia have access to the platform’s Coinbase Custody, an institutional-grade service optimized for storing large amounts of cryptocurrency in a highly secure manner.
“We see a bright future ahead for crypto in Asia. Building on our announcement last June that Nao Kitazawa would lead our efforts in Japan, we have also recently appointed Kayvon Pirestani to head institutional sales in Asia, operating from our Tokyo office.”
To add on to customer’s delight, the platform will be rolling out their recent OTC trading desks to all the approved Coinbase Prime clients around the world, allowing a few select customers to perform large amounts of trade.
Andrew Robinson, head of institutional sales and trading for Coinbase in Europe, the Middle East, and Africa, said in an interview with Forbes:
“The OTC, which went live in the U.S in November and the in the U.K. just before Christmas, has been well received so far. This latest upgrade means Coinbase customers outside the U.S. are now able to trade without a domestic U.S. bank account – something we think is going to make a big difference for out trading volumes.”
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