Coinbase Custody has $1.3 billion assets under custody; expects to hit $2 billion soon

Sam McIngvale, CEO of Coinbase Custody and Philip Martin, in a recent visit to the UK revealed that the platform already has $1.3 billion assets under custody [AUC] and expects to touch $2 billion soon. The platform’s Twitter handle tweeted about the event soon after, with Coinbase Custody referring to some common misconceptions that exist in the ecosystem, tweeting,

“There’s a narrative out there that institutional-grade services don’t exist in crypto. This isn’t true. Coinbase Custody is a regulated, insured and secure custodian. We have $1.3bn AUC and expect to hit $2bn soon. We have no intention of stopping there.”

The Coinbase Custody executives also discussed institutional crypto-economy in the region, their take on security and Coinbase’s expansion plans ahead. In a series of tweets, Coinbase Custody quoted,

“We really built our security by drawing on a range of different technologies and systems. We’re always adapting, that is what gives us this strong security foundation.”

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