The Bitcoin exchange Coinbase has acquired the Depositary solution for institutional customers, Xapo for 55 million US dollars. According to information from Coinbase is the world’s largest crypto-custodian.
By Phillip Horch
17. August 2019 BTC$9.697,19 -8.62% part Facebook Twitter LinkedIn xing mail
In an official communication to the Bitcoin exchange Coinbase to be the world’s largest custodian of crypto-currencies. Accordingly, the American companies currently hold seven billion dollars in various Assets under custody. The message following the alleged loss of two important business partners.
The announcement follows the purchase of the Depositary solutions of Xapo, a Wallet provider from Hong Kong. The merger of the two companies promises to be, ultimately, an extension to the Coinbase business field. Coinbase plans to make crypto-currencies for a wider audience available:
How Xapo we share the goal of Bitcoin and other crypto-currencies in a secure […] and to make legally compliant manner.
in addition to the Depositary’s solution, the company also plans, Services such as Staking and rental of Bitcoin & co. offer. The company also aims to support institutional clients such as hedge funds, Family Offices and Trading Desks.
Bitcoin-exchange-Coinbase and the banks-Boycott
While the company welcomes a new Partner, it is important to compensate for the alleged two losses.
So, reached us on 15. August is the message that Coinbase with Barclays had lost a banking Partner. Therefore, the English Bank ended the business relationship with the American Bitcoin exchange. Previously, it had made Barclays for Coinbase possible to have access to the Faster Payments System, which in turn made fast money transactions possible.
The termination of the partnership has for its consequence that the British Coinbase customers for both deposits and withdrawals with longer waiting times to count. As it stands now, is to be compensated for the loss, but soon by the clear Bank. Accordingly, the British Start-up, agreed, as a substitute to fill in.
so Far, according to unconfirmed rumors, the Spanish Bank Santander is to have your cooperation with the crypto-custodian is terminated. So a Reddit user reported that Santander had informed employees that the customer was no longer allowed to transfer money to Coinbase to.
A majority of the customers of Xapo, according to Fortune now ready retention of a total of 514.000 Bitcoin from Xapo to send to Coinbase to.
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