The head of the American company Coinbase Brian Armstrong during the conference, the Consensus 2019, said that the volume of customer funds stored in Coinbase Custody reached $1 billion, reported by CoinDesk.
Moderator Paul Vigna asked Armstrong the question of future prospects for institutional investment in kriptonyte. The head of Coinbase replied that the $1 billion accumulated in 12 months after the launch of custodian services.
He also added that the service was used by 70 large investors. The volume of funds managed by Coinbase Custody increased by about $150 million monthly.
«So largely it is a success,» — said Armstrong.
According to him, institutionally are interested not only in simple possession means:
«They want to do takinga and vote, by oncein-management. I think it all will prosper»
Brian Armstrong noted that whales are still most interested in bitcoin. However, the popularity of other coins also gradually increases, so Coinbase currently offers to large customers access to 30 aldonas, including the possibility of staking some of them.
In addition, Armstrong said that 60% of the volume of trading on Coinbase Pro account for institucionales.
Coinbase Custody began to receive funding from a wide range of institutional investors from the US and the EU last summer. The service is available for major market participants that can afford to invest in cryptocurrencies excess of $10 million.