silicon Francisco - based Coinbase has launched Coinbase Custody , a service aimed at the minimum $ 10bn of institutional money that could be available for digital asset trading . According to co - founder Brian Armstrong , sovereign wealth funds , family funds and traditional hedge funds are put off by the absence of a digital currency custodian , prompting the creation of digital Custody . He said the service – only available to institutional investors with a minimum of $ 10 m – would meet requirements , including strict financial controls and being a regulated digital currency custodian . Coinbase said it already has cryptocurrencies worth at least $ 9bn stored on behalf of customers .
San Francisco-based Coinbase has launched Coinbase Custody, a service aimed at the estimated $10bn of institutional money that could be available for digital asset trading. According to co-founder Brian Armstrong, sovereign wealth funds, family offices and traditional hedge funds are put off by the absence of a digital asset custodian, prompting the creation of Coinbase Custody. He said the service – only available to institutional investors with a minimum of $10m – would fulfil requirements, including strict financial controls and being a regulated digital currency custodian. Coinbase said it already has cryptocurrencies worth at least $9bn stored on behalf of customers.