Coinbase launches an "institutional" service for Asia; is Binance also joining the race?!
Coinbase is Expanding Services for High-Volume Customers
Coinbase, the world’s largest cryptocurrency exchange headquartered in the United States, announced on January 23 that it will expand services for high-volume clients focused on the Asia region.
According to Coinbase’s announcement, the two services to be expanded are:
- Institutional trading platform
- Existing custody operations (Coinbase Custody)
In addition, to support these service expansions, they will offer a wire transfer service using SWIFT so that customers residing in Asia can deposit and withdraw funds from bank accounts outside the United States.
Kayvon Pirestani, Head of the Asia Institutional Investor Sales, commented on the importance of Asia in cryptocurrency trading as follows.
Mr. Kayvon Pirestani
Because Asia is a region with the world's most active traders and institutions that many consider home,
Asia is very important to the cryptocurrency ecosystem.
In the cryptocurrency market, Asia is not the only region that Coinbase regards as important.
Ripple is also among the companies showing interest in the Asian market, and Dan Morgan, Asia Regulatory Affairs Lead at Ripple, spoke about the charm of the Asia region as follows.
Mr. Dan Morgan
XRP has just begun, but we are paying the most attention to the Asia market.
It may be a transitional period due to the high costs of Corwise Bank (likely referring to a bank) causing services to be inadequate, but there is demand for international remittances.
As for digital assets, most liquidity is in the Asia market.
【Table of contents for this article】
1: Coinbase is expanding services for high-volume customers
➜ Also offering custody and OTC trading services
2: Binance accelerates expansion of services for high-volume customers
