Considering the newness of cryptocurrency in relation to something as societally ingrained as regular government-backed currency, many institutions need help managing their newfound stock in the technology, and Coinbase Custody is one such option. The digital asset manager helps institutional investors to keep their cryptocurrency investments in accordance with the law and secure from potential theft.
Banks are deeply familiar with the types of supports that they need to install in order to support their customers, including assurances of security and personal touchpoints to keep those clients confident in the wellbeing of their investments. Coinbase Custody is essentially providing that same service for banks that now find themselves on the other side of the client-service provider dichotomy.
Custodial Cryptocurrency Storage
Coinbase Custody is a Digital Asset Custodian for Institutions
Trend Themes
1. Institutional Cryptocurrency Investment - As more and more institutions invest in cryptocurrency, there will be opportunities for digital asset managers to provide secure and legal storage solutions.
2. Custodial Crypto Services - The rise of custodial crypto services like Coinbase Custody will allow investors to keep their cryptocurrency investments secure and in accordance with the law.
3. Crypto Security Assurance - As the value of cryptocurrency investments increases, there will be a growing demand for services that provide assurance of security and protection from theft.
Industry Implications
1. Financial Services - Financial institutions can partner with companies like Coinbase Custody to provide secure and legal cryptocurrency storage solutions to their customers.
2. Cryptocurrency - Custodial cryptocurrency services like Coinbase Custody are disrupting the way investors store and manage their cryptocurrency investments.
3. Cybersecurity - Custodial crypto services and digital asset managers have the potential to revolutionize cybersecurity by providing secure storage solutions for high-value assets like cryptocurrency.