Coinbase has released two large announcements regarding features on some of its platforms in the last 24 hours. The San Fransico-based cryptocurrency exchange made a large upgrade to its Coinbase wallet, and it also announced that Coinbase Custody is directly integrated with its OTC trading desk. The new Coinbase upgrades should have crypto enthusiasts thrilled.
Coinbase Upgrades: Wallet App
— Coinbase Wallet (@CoinbaseWallet) March 12, 2019
Coinbase users can now rejoice because the company just released a feature that allows users to directly transfer their cryptocurrency holdings on the Coinbase website to accounts in the wallet app. This new update is not yet added to the Wallet app but will be released in a few days.
Coinbase users still need to use the company’s main website to buy cryptocurrency. The company claims that the Wallet app is used to store cryptocurrency and is safeguarded by a private key that only the user knows. The new Coinbase upgrade to the Wallet app doesn’t allow you to purchase crypto if your balance is running low, but the company has plans in the future to add this feature. In the blog post, the cryptocurrency exchange also says it plans on making it easier for users to send the digital currency back to Coinbase’s website from the Coinbase wallet.
Coinbase Upgrades: Custody
Coinbase Custody + OTC = easy, instant, anonymous liquidity for offline funds
Coinbase Custody clients can now trade OTC directly into and out of their custody accounts.https://t.co/tp8DvEqB5r
— Coinbase Custody (@CoinbaseCustody) March 13, 2019
Coinbase Custody, a product aimed at aiding institutional cryptocurrency adoption, announced this morning that it is now directly linked to Coinbase’s OTC desk. Custody was launched to draw in institutional investors and make it easier for them to buy digital currencies. This new upgrade integration with Custody and the OTC Desk further the goal of aiding institutional investors. Clients that use Coinbase Custody can now leverage the OTC desk to price and confirm trades before ever moving the funds.
Both of these new Coinbase upgrades are geared towards two different target audiences. The company continues to expand on various different outlets of its company to try and keep up with the other exchanges and players in the space. Many of the other digital exchanges have made strong headway with their OTC trade desks, but Coinbase stands out with its own group dedicated specifically to the institutional investor.
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