Coinbase Adds International Wire Transfers for High-Volume Users in Europe & Asia

Jan 23, 2019 at 15:10 // News
Author
Coin Idol
This new feature will allow Coinbase customers in many countries throughout Asia and EMEA to access Coinbase’s deep pool of crypto liquidity for the first time.

High-volume Coinbase Pro and Prime Clients in Asia and Europe can now easily fund their accounts through cross-border SWIFT wire transfers from non-U.S. financial institution accounts, according to an official post published on The Coinbase Blog on Tuesday.

The blog announcement added:   

“This new feature will allow Coinbase customers in many countries throughout Asia and EMEA to access Coinbase’s deep pool of crypto liquidity for the first time.”   

The blog post further notes that:   

“Select Coinbase Prime customers globally will also have access to our US and European over-the-counter (OTC) trading desks and Coinbase Custody.”   

Coinbase Custody – which aims at serving institutional clients and safeguarding huge amounts of digital currencies, lately received approval to function in New York, after rolling out in July 2018.   

As per the blog post, the OTC trading desk – which Coinbase rolled out in November 2018, enables clients to run weighty volume trades with the least possible price slippage.   

In 2018, the institutional investors have progressively seen crypto-related goods penetrating the market.   

In the month of November last year, an Israeli firm rolled out what was purportedly the country’s first consecrated cryptocurrency investment company for all institutional investors, according to Bloomberg report.   

Balancing the Boat   

In January, 2019, Seed CX – a cryptoasset exchange platform based in Chicago USA, a licensed platform aiming at institutional customers, rolled out a crypto wallet solution with on-chain settlement.   

On Tuesday January 22, news spread that top 5 digital currency exchange Huobi is considering establishing its own stablecoin in 2019 as part of its roadmap and guideline.   

In order to superintend Coinbase’s institutional sales, the exchange has selected Kayvon Pirestani, an ex U.S. institutional sales head, to lead the same project in Asia, with a base of operations in its office located in Tokyo, the capital of Japan. 

However, recently, cryptoasset hackers stole more than $1.5 million of Ethereum Classic (ETC) through “double spending” and Coinbase came out to terminate trading of ETC, as Coinidol reported.

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