Coinbase Spoke to U.S. Regulators About Acquiring Federal Banking License

Major U.S. cryptocurrency exchange and wallet Coinbase spoke to regulators about obtaining a federal banking charter, according to a report by the Wall Street Journal (WSJ) May 18. Citing “a person familiar with the matter”, the WSJ reports that Coinbase spoke to the U.S. Office of the Comptroller of the Currency (OCC) at the beginning of 2018 both about a bank charter and about their business model. A spokesperson for Coinbase declined to comment on the meeting to the WSJ, but added that the company is “committed to working closely…

Crypto Exchange Coinbase Goes After Institutional Investors | CNBC

Coinbase announced the launch on Tuesday of four new products aimed at that investor class: Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group and Coinbase Prime. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News…

Coinbase Targets ‘$10 Bln’ Institutional Investor Market With New Suite Of Products

Major US crypto wallet provider and exchange service Coinbase has announced it is launching a suite of new products aimed at institutional investors, according to an official blog post today, May 15. The four products – Coinbase Custody, Coinbase Markets, The Coinbase Institutional Coverage Group and Coinbase Prime – all focus on alleviating major concerns that have allegedly caused institutional investors to hold back from entering the cryptocurrency space so far, such as security and regulatory compliance. Adam White, Coinbase vice president and general manager, was confident in telling CNBC…

Coinbase Rolls Out Crypto Custody Product for Institutions

Cryptocurrency exchange Coinbase announced Tuesday it is formally launching Coinbase Custody, a product aimed at aiding institutional cryptocurrency adoption. First announced last year, Coinbase Custody is a crypto storage service directed specifically at large financial institutions, as previously reported by CoinDesk. At the time, the exchange said users would have to pay a $100,000 set-up fee and keep a minimum of $10 million in deposits. Further, there is a minimum monthly fee based on the assets stored. “We have leveraged our experience safely storing more than $20 billion of cryptocurrency…

Facebook Forms Exploratory Blockchain Team Led By Coinbase Board Member

David Marcus, the head of Facebook’s messaging app Messenger, announced that the social media site is exploring possible applications for blockchain technology, CNBC reported May 8. “I’m setting up a small group to explore how to best leverage blockchain across Facebook, starting from scratch,” Marcus shared in a post Tuesday afternoon on his personal page. Marcus has been leading Messenger for almost four years. In December, he joined cryptocurrency exchange Coinbase as a board member. Facebook, however, hasn’t revealed how interested it is in applying blockchain. The move comes as…

Facebook Taps Coinbase Board Member to Lead Blockchain Initiative

Join our community of 10 000 traders on Hacked.com for just $39 per month. David Marcus will be leaving his leadership role at Messenger to oversee a new Facebook team focused on blockchain technology, according to Recode. The team, which will reportedly have less than a few dozen employees, will include James Everingham, vice president of engineering at Instagram, and Kevin Weil, Instagram’s vice president of product. Stan Chudnovsky, who oversees product at Messenger, will assume Marcus’ former role. Marcus, former president of PayPal, brings payments expertise. He has also…

Crypto-Friendly CheapAir Asks Customers For Feedback On Switch Away From Coinbase

The CEO of US-based flight aggregator CheapAir has published an open letter to customers on April 20, asking for opinions on a merchant solution switch to BitPay over crypto wallet and exchange service Coinbase. CEO Jeff Klee wrote in the letter that CheapAir.com has accepted Bitcoin (BTC) for flight and hotel bookings since 2013. According to the CEO, Coinbase’s recent notification that they will suspend “custodial” solutions for merchants will make accepting BTC more difficult. In response to the upcoming Coinbase changes, Klee suggests that the company implement a “reliable…

Hedge Fund Och-Ziff Exec Leaves Wall Street To Become Coinbase CFO

The Chief Financial Officer (CFO) at Wall Street’s Och-Ziff Captial Management (Oz Management) has left to become the new CFO at major crypto wallet and exchange service Coinbase, according to Coinbase’s blog post published yesterday, April 17. Alesia Haas has worked at Oz Management for a year and a half, previously working in executive roles at OneWest Bank and Merrill Lynch. Coinbase President and COO Asiff Hirji wrote in the company’s blog post that Haas will begin at Coinbase immediately, but will also stay on at Oz Management for the…