Coinbase Custody Is Operating Now

The famous exchange Coinbase announced on Monday that its organizational product has started receiving deposits.

Coinbase Custody, designed for organizational hedge financial means and other customers who can deposit a minimum of $10 million, took its first deposit last week. Currently, the new service is real for all clients.

The exchange at the present moment conducts more than $20 billion in crypto funds, a quantity the company expects Custody will contribute to raise by another $10 billion.

At first declared in November 2017, Coinbase Custody customers will pay $100,000 as a installation payment and a 10 basis point monthly fee on the funds being held.

The product was officially started up in May, when the company furthermore clarified its projects to operate with a U.S. Securities and Exchange Commission-controlled broker-dealer. The exchange passed one step further earlier a month ago, when it informed it was in the technological process of purchasing a broker-dealer permitting-license, an optional trading framework license and an investment advisor license.

Currently, Coinbase Custody is open to users in the U.S. and Europe. Although no firm time scale was mentioned, the exchange said it expects to reveal up to clients in Asia by the end of 2018.