Coinbase to become the first approved crypto broker-dealer

Coinbase is waiting for licenses approval by SEC to become the first crypto broker-dealer to offer SEC-regulated blockchain-based securities
07 June 2018   474

According to the official blog, Coinbase is posed to become the first fully licensed crypto broker-dealer capable of offering crypto securities, which fall under the purview by US Securities Exchange Commission (SEC).

This announcement states that Coinbase is waiting for approval by SEC of its new licenses to become a regulated broker-dealer. To get this far, the company had to acquire a broker-dealer license, an alternative trading system license (ATS) and a registered investment advisor (RIA) license. It seems that all these were acquired with the purchase of three companies: Keystone Capital Corp, Venovate Marketplace Inc. and Digital Wealth LLC. The details of the deal are still undisclosed.

The whole ordeal with license acquisition and approval is quite important for Coinbase, because should they succeed, the company will become the first regulated cryptocurrency broker-dealer under the oversight of US SEC and Financial Industry Regulatory Authority (FINRA).

If approved, these licenses will allow Coinbase to expand its services to include crypto securities trading, margin and over-the-counter (OTC) trading, and new market data products.

Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title.

Asiff Hirji, President & COO, Coinbase

Coinbase to Present Toshi

Company believes that it can be a starting point for decentralized Internet
16 August 2018   413

Coinbase announced the launch of Coinbase Wallet called Toshi, which the company's specialists have been working on for the past year and a half.

According to the company's representatives, Coinbase Wallet should be viewed not simply as a tool for accessing cryptocurrencies, but as a starting point for decentralized Internet.

We believe that the applications of the future will be built on a decentralized internet (the blockchain). Everyone will own a crypto wallet that allows them to access decentralized applications (dapps) and that wallet will be their gateway to the open financial system.
 

Coinbase

Tooshi development started back in April 2017 under the Ethereum messager Token name. Last months the product development was headed by Peter Kim, the founder of the startup Cipher Browser, which was acquired by Coinbase in April this year.

Toshi features:

  • ERC 20 tokens and Ethereum support
  • Airdrop and ICO tokens support
  • Purchasing and storing crypto collectibles
  • Exchange trade

Coinbase Wallet also allows users to send payments anywhere in the world, giving them access to leading decentralized exchanges and decentralized third-party applications.