Coinbase Custody announced

A Digital Currency Custodian For Institutions announced by the US cryptocurrency exchange Coinbase 
17 November 2017   1551

Californian company Coinbase announced the launch of a new company, the main purpose of which will be to assist institutional investors in the safe storage of digital assets. The new company was named Coinbase Custody.

According to the CEO of Coinbase, over the past year, more than 100 hedge funds targeting digital currencies have been created, and even more traditional institutional investors are beginning to view digital assets as one of the options. In addition to traditional hedge funds, it also deals with family funds, capital saving funds and other types of conservation and asset growth.

By some estimates there is $10B of institutional money waiting on the sidelines to invest in digital currency today.
 

Brian Armstrong

Co-founder and CEO, Coinbase 

According to Brian Armstrong, institutional clients require:

  • Strict financial controls (multiple signers, audit trails, limits, etc)
  • Dedicated account representatives and phone support
  • SLAs on funds transfers
  • A regulated digital currency custodian
  • Multi-user accounts with separate permissions
  • Support for a wide range of digital assets and currencies
  • Insurance (in some cases)
  • And high levels of cyber and physical security

Coinbase is well positioned to launch this product. We already store billions of dollars worth of digital assets on behalf of our customers. We serve thousands of institutions via our GDAX product, the leading digital currency exchange in the U.S. We’ve raised $216M from venture capital firms and financial institutions like the NYSE/ICE, USAA, BBVA, Westpac, and MUFG. And we have approximately 200 employees working across our three offices in New York, London, and San Francisco with deep industry knowledge. 
 

Brian Armstrong

Co-founder and CEO, Coinbase 

The statement notes that in the coming years Coinbase Custody will help significantly increase the flow of institutional money into digital currencies.

The product will be gradually introduced throughout 2018 and will be available only to investors willing to make a minimum purchase of $ 10 million.

tZERO to Launch Bitcoin Trading App

Application itself is being developed by Bitsy; it may also begin to support Ethereum in the future
22 March 2019   180

The security tokens platform tZERO announced plans to launch a mobile application for buying and selling bitcoin. In the future, the application may also begin to support Ethereum,  CoinDesk reports.

According to Saum Noursalehi, CEO of tZERO, applications for iOS and Android devices should be launched in June. Bitsy is developing it, a cryptocurrency start-up that is part of the portfolio of the Overstock venture division of Medici Ventures.

That’s part of the reason we acquired Bitsy — to accelerate time to market for our mobile app. They have an app for trading crypto, primarily bitcoin, in a beta-phase, they built a wallet and key recovery mechanism, and this will be the foundation of the mobile app for tZERO. They are also working on some cool stuff like biometric login. 
 

Saum Noursalehi

CEO, tZero

According to him, the application will allow you to store cryptocurrency without the need to trust third parties and it will be connected to the network of exchanges through the API. The implementation of this plan will occur through partner tZERO, the institutional trading platform SFox.

In the future, the head of tZERO added, the platform also intends to create its own cryptocurrency vault to meet the demand from users.

The public beta testing of Bitsy wallet started in November 2018. With his help, the Overstock retailer plans to launch Bitcoin sales on its website.