Coinbase Custody goes International in Dublin according to the company blog post. Coinbase is extending its services of Crypto staking and related services.
Major United States-based cryptocurrency exchange Coinbase has established an entity in Ireland to expand its crypto custody services to European institutions.
The firm’s services will be the same as those provided by Coinbase Custody in addition to taking over all the staking activities performed by the exchange.
Coinbase Custody initially began offering staking for select cryptocurrencies in March 2019, and expanded that service to international the following November.
Recent Proof of Stake news
The Proof of Stake Alliance (POSA) – a group of organizations dedicated to educating U.S. regulators on blockchains – has expanded its membership.
Coinbase Custody and Libra Association member Bison Trails have joined POSA, bringing the total number of members at the alliance to 18. Other members include Tezos, Polychain Capital, Cardano Foundation and more.
They all hope to bring regulatory and tax clarity for Proof of Stake blockchains such as Tezos and Cosmos. Ethereum is also planned to transit from a proof-of-work mechanism to a proof-of-stake system later this year.
“Proof of Stake is an increasingly important innovation that the crypto space as a whole is rapidly trending toward,” said Sam Mcingvale, CEO of Coinbase Custody. “It’s our hope that through the work of organizations like POSA, we’ll start to see meaningful conversations and, in time, clarity when it comes to POS and its applications.”
From the Blog Post
Today we’re announcing the launch of Coinbase Custody International, Ltd. Based in Dublin, Ireland, the new entity will offer the same industry-leading crypto asset storage that has made Coinbase Custody the world’s leading and most trusted crypto custodian. In addition to offering institutional custody services, all staking activity performed by Coinbase will transition to Coinbase Custody International.
Coinbase Custody International’s mission is to provide the broadest digital asset coverage of any institutional-grade custodian. While Coinbase Custody has served European-based clients in the UK, Switzerland, Germany, Finland, the Netherlands and more since 2018, our dedicated presence in Europe will allow us to offer these services in a completely localized way, with local staff, localized SLAs and in compliance with local laws.
Meeting our customers needs
Our international launch is aimed to meet the demands of institutional investors in Europe and beyond. Europe is our fastest growing geographic segment and our international launch is a direct result of client demand. By offering our services from the same region in which our clients are located, it’s our goal that they will benefit from greater legal and regulatory clarity. Our growing and experienced staff in Dublin and London have enabled us to expand our SLAs to fully cover European-based clients. Our SLAs are in effect from 9am through 2am GMT (1am through 6pm PT), meaning our customers will benefit from almost round the clock support.
Over the coming months, we plan to support more assets and launch new features that will continue to demonstrate that Coinbase Custody is the most trusted and innovative place for institutions to store their crypto assets. To learn more about Coinbase Custody International, visit: custody.coinbase.com
