Coinbase’s crypto-custody service for instatitutional investors is being tested and it’s eventual launch will have a huge (and positive) implication for the crypto market. Coinbase expects to win approval soon to serve clients requiring a so-called qualified custodian that meets tough U.S. standards for guarding assets. That will give the confidence needed for meaningful capital (think institutional investors like pensions and hedge funds) to enter and revive this market. Aside from Coinbase, many others are talking to regulators and exploring crypto-custody services.
Source: Bloomberg