US-based Coinbase Launches International Office for Custody of Crypto Assets

coinbase custody platform

Coinbase exchange made two big announcements on Wednesday.

First, was the launch of a new private limited entity in Europe – Coinbase Custody International, Ltd.

Second, was the successful poaching of Google’s Shopping VP of Product Surojit Chatterjee. He will join Coinbase as their CPO for crypto-commerce. Chatterjee has over 11 years of experience at Google and recently worked as the Head of Product at one of the leading e-commerce sites in India.

Expansion of Custody Services

The US-based crypto exchange now plans to expand it’s custody business to Europe. The new office of Coinbase Custody International, Ltd. is based in Dublin, Ireland. The exchanges reports that,

Europe is our fastest growing geographic segment and our international launch is a direct result of client demand.

The new international office is aimed at improving customer relation and also guarantees compliance under their regulatory jurisdictions. Not only in Europe, but Sam McIngvale, CEO of Coinbase Custody aims to offer services to clients across Asia as well. He told the media,

We think we can service most of Asia and other international markets out of Custody International.

As one of the leading exchanges in the space, Coinbase has looked to offer services to all retail and institutional clients. While is the retail exchange, Coinbase Pro and Custody is primarily designed for high net worth entities. Coinbase Custody holds nearly $7 billion worth of crypto assets.

The firm also plans to add other crypto assets to it’s Custody platform.

Do you think institutional growth will be good for the crypto markets? Please share your views with us.

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