2 July cryptocurrency exchange Coinbase announced on Twitter that its new Depositary services last week received its first contribution. The service is focused on working with institutional hedge funds and other clients, is able to contribute at least $10 million.
Coinbase also said that now keeps cryptocurrency assets of more than $20 billion the Company expects that the Depository service will help her raise another $10 billion.
For the first time on the preparation of the service was announced in November 2017. According to CoinDesk, customers for access to it will have to pay $100 000, also with them will take 0.1% of assets for each month of storage.
Formally, the product was launched in March, when Coinbase considered the prospect of cooperation with a brokerage company licensed by the securities and exchange Commission. In may, Coinbase announced that it is in the process of obtaining a license broker-dealer license alternative trading systems and licenses investment Advisor. If they are received, the company will be able, in addition to current products, propose and securities.
Now access Depository service Coinbase opened for clients from USA and Europe. The company expects to begin work with Asian customers by the end of 2018, but exact dates have not yet called.