Coinbase Sets ‘Core Principles’ For Institutional Cryptocurrency Products

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Cryptocurrency exchange and wallet service Coinbase has published a set of core principles around its products for institutional investors in cryptocurrency, as the firm continues to attract institutional money to digital currency investments.

Coinbase, which runs the largest cryptocurrency exchange in the U.S., released a series of “fundamental beliefs” that are set to govern its handling of a new suite of crypto products announced in May, which aim exclusively at institutional investors.

According to details published in a blog post from vice-president and general manager Adam White, there are five principles that will govern how Coinbase provides and develops its offer to institutional investors.

“Our mission at Coinbase is to create an open financial system for the world. We take this mission seriously: it’s the guiding light for every decision we make, and one of the reasons we recently launched a suite of products and services designed specifically for the needs of institutional investors. These offerings are bringing new capital into the space, facilitating more efficient price discovery and driving methods for safer storage, all of which helps move us closer to an open financial system.

“This set of fundamental beliefs will act as our North Star as we design, develop and operate our products. Ultimately, we intend for these core principles to drive us toward our goal of operating the most trusted venue for storing, trading and interacting with the world of cryptocurrency.”

The core principles include ensuring “fair market access to all participants” and operating “fair and orderly” markets, as well as protecting investors through “institutional-grade infrastructures and processes,” enforcing “transparent market rules and governance” and the public disclosure of “listing practices and market rules.”

The principles come just a matter of weeks after Coinbase launched Coinbase Custody, a cryptocurrency storage service for institutional investors, which began taking its first deposits early in July.

The move ties in with the firm’s strategy of courting institutional investors, a development many in the cryptocurrency space have said will help drive liquidity, transparency and the wider adoption of digital currencies like bitcoin.