TokenSoft to Cooperate with Coinbase Custody

From now on, TokenSoft offers two custodial solutions to security-token issuers
21 December 2018   646

Platform for launching security tokens TokenSoft announced the native integration of the broker-dealer TokenSoft Global Markets, which is regulated by the Securities and Exchange Commission, with Coinbase Custody, the leading custodian platform for institutional clients from the US cryptocurrency company Coinbase.

TokenSoft now offers two custodial solutions to security-token issuers: a digital asset store based on their own development, or a Coinbase Custody solution using a blockchain to prevent the client and custodian from mixing.

In many instances, issuers are looking for someone to manage the security and compliance of custody for them. The current options aren’t fully integrated, use omnibus accounts, and don’t provide the level of data granularity necessary to meet the standards of top accounting firms. Additionally, Coinbase’s approval in one of the strictest jurisdictions, New York, gives everyone a lot of comfort. This new custody relationship will enable our issuers to simply work with one of the most well-known custody platforms in the industry, providing them with security, compliance and peace of mind.
 

Mason Borda

CEO, TokenSoft

Coinbase Custody Trust Company LLC received approval from the New York State Financial Services Authority (NYDFS) for custodial services in October.

Previously, Coinbase and TokenSoft invested in a startup called Nomics, which intends to index 95% of the data related to cryptocurrency trading.

Coinbase Revenues to Reach $520M in 2018, Media Says

Additionally, Coinbase UK's revenues grew by 20% last year
18 April 2019   137

The leading US cryptocurrency company, Coinbase, earned about $ 520 million in 2018, and its British subsidiary revenues grew by 20% last year. This is reported by the Reuters.

Despite the collapse of the market, against which many companies were experiencing serious financial difficulties, Coinbase's UK revenue totaled more than 153 million euros ($ 172 million). These data the company filed in the register of legal entities in the UK.

Coinsbase UK executive director Zeeshan Feroz said that his division accounts for almost a third of the company's revenues. Thus, it can be calculated that the total revenue of Coinbase was more than half a billion dollars. At the same time, representatives of the exchange refused to comment on this information.

In addition, according to a PitchBook study, the activity of venture investors has increased dramatically in the cryptocurrency industry. This year they have already invested about $ 850 million.