Coinbase Launches Its Prime Brokerage Services

The Coinbase Prime platform will handle huge orders and will be a one-stop shop for “advanced trading, battle-tested custody, and financing,” according to the company.


Coinbase Global Inc, a Nasdaq-listed crypto exchange, unveiled its institutional-grade crypto brokerage platform “Prime” on Monday, September 20. This is Coinbase’s latest move to attract more institutional participants to its platform.

Coinbase Prime is a one-stop shop for “advanced trading, battle-tested custody, and financing,” according to the company.

As a result, as compared to its retail trading platform, the Coinbase Prime platform will quickly handle orders that are substantially higher in size.

Coinbase also launched a video on youtube promoting the prime features.

Clients utilised Coinbase Prime during its beta testing to “execute some of the largest trades in the industry.” Meitu, MicroStrategy, and One River Digital Assets are among Coinbase’s top clients.

Greg Tusar, Coinbase’s vice president of institutional products, noted in the formal announcement:

“Along the way, we’ve continued to add more venues to our smart router which allows clients to achieve the best available price, more assets to our custody capability, enhanced our post-trade reporting capabilities, and added to our post trade credit financing options”.

WHAT THE PRIME SERVICE WILL DO?

Coinbase Prime’s smart contract router feature will provide institutions more access to the crypto market.

Coinbase will route your order through its network of venues, giving you the best all-in pricing for your trade, including trading costs. Coinbase claims to have performed due diligence on its trading venues.

An excited user took her excitement into the microblogging site and wrote about what she will buy with her Shiba Inu coins after the prime launch.

Coinbase announced on its latest earnings call that it had onboarded over 9000 financial institutions. Furthermore, the exchange stated that it had collaborated with industry titans like as Tesla Inc CEO Elon Musk.

Coinbase’s recent announcement coincides with the company’s ongoing legal dispute with the US Securities and Exchange Commission.

Coinbase has chosen to postpone the launch of its Lend product with the US SEC because to concerns about an SEC lawsuit.

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