Coinbase’s cryptocurrency custody service is officially open for business, the company announced on its blog today. The service will be offered through its subsidiary, Coinbase Custody. Coinbase already acts as a custodian for the customers of its cryptocurrency exchange desk Coinbase PRO (formerly, GDAX). But the new service will cater specifically to institutional investors. “Coinbase Custody is a combination of Coinbase’s battle-tested cold storage for crypto assets, an institutional-grade broker-dealer and its reporting services, and a comprehensive client coverage program,” Sam McIngvale, Product Lead at Coinbase Custody stated. The cryptocurrency exchange desk acquired three companies last month to be able to offer…

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