Coinbase Custody Goes International With New Entity in Ireland

Coinbase has launched Coinbase Custody International Inc., a European entity for handling cryptocurrency deposits. Based in Dublin, Ireland, Coinbase said in a blog post that client demand for institutional-grade custodial services drove the move. Separately, a spokesman for the exchange said Coinbase Custody now has $8 billion in assets under custody, up from the $7 billion announced last November. “While Coinbase Custody has served European-based clients in the UK, Switzerland, Germany, Finland, the Netherlands and more since 2018, our dedicated presence in Europe will allow us to offer these services…

Former Google Exec Joins Coinbase as New Chief Product Officer

Former Google executive Surojit Chatterjee has joined Coinbase as the company’s new chief product officer.  Before joining Coinbase, Chatterjee worked as a Google’s vice president of product, tallying 11 years at the internet company, Coinbase CEO Brian Armstrong wrote in a Jan. 29 blog post announcing the hire.  An experienced hire During his time at Google, Chatterjee headed up the internet giant’s shopping branch. Prior to Google, Chatterjee served at the helm of Indian e-commerce venue Flipkart as its head of product, the blog post detailed.  “Surojit’s 11 years at…

Coinbase Hires Google VP as Chief Product Officer

Coinbase has hired a former vice president of product at Google to be its chief product officer.  Surojit Chatterjee spent 11 years at Google, where he worked on payments, adtech and commerce. He most recently led the continuing development of Google Shopping, a service available in more than 90 countries. Prior to that, he was the head of product at Indian e-commerce site Flipkart. Chatterjee is Coinbase’s first chief product officer since the departure of Jeremy Henrickson in December 2018, the company confirmed. In his new role Chatterjee will focus…

Former Coinbase COO Joins Blockchain-Based Lending Firm Figure

Asiff Hirji, the former president and chief operating officer of Coinbase, is the new president of Figure Technologies, the blockchain-based lending firm backed by Morgan Creek Digital. Figure announced Hirji’s addition Wednesday, saying the longtime financial executive will oversee the company’s growth. Figure CEO Mike Cagney said in a statement that the company would be creating a new merchant bank with Hirji’s help. Cagney is perhaps best known for being the co-founder and former CEO of SoFi, the digital consumer finance company. “Asiff has already been a critical advisor to…

UK Financial Service Provider to Coinbase, Bitstamp Awarded FCA Payments License

A company that provides financial services for cryptocurrency companies like Coinbase, Bitstamp and Galaxy Digital has been awarded a payments license by the U.K.’s Financial Conduct Authority (FCA). London-based BCB Group announced the news Wednesday, saying its subsidiary, BCB Payments Ltd., is now the “first and only crypto-focused” company to have be registered as an Authorised Payment Institution in the U.K. With British banks reluctant to engage with crypto firms, BCB is one of few options available. The firm said it takes a “dedicated focus on B2B payment services including…

Coinbase and Ripple Execs Unveil Master Plan to Drive US Crypto Adoption

Two executives at Coinbase and Ripple are leading a push for smart regulations and transparency in the crypto-sphere that would arguably drive adoption and take blockchain technology mainstream.  Market integrity must improve The Market Integrity Working Group’s co-chairs want regulators to grasp how they can advance the cryptocurrency industry. In an official company statement, Coinbase senior director and associate general counsel Rachel Nelson, in conjunction with Ripple’s head of global institutional markets Breanne Madigan, wrote:  “To improve market integrity and provide consumers the confidence they deserve, Congress may need to…

Exchanges Hold More Bitcoin Than Ever as Coinbase Wallet Nears 1M BTC

United States cryptocurrency exchange Coinbase will soon hold a million Bitcoins (BTC) in its cold wallets in a controversial first for the industry. According to data from news and information resource Longhash released on Jan. 23, Coinbase’s cold wallets contained around 970,000 BTC ($8 billion) as of Jan. 1. Coinbase weeks away from 1 million BTC If current growth continues, the company will reach the 1,000,000 BTC mark by February. Coinbase cold wallet balance, 2019-present. Source: Longhash The trend underscores growing tendencies to interact with Bitcoin via exchanges, with the…

Coinbase Hands Nearly $1M to Cryptsy Victims After Settling Class Action Lawsuit

Coinbase has settled a class action lawsuit brought by users of the former Cryptsy cryptocurrency exchange. According to a set of court documents dated Nov. 27 and Dec. 10, 2019, Coinbase has agreed to turn $962,500 over to an escrow agent responsible for handling class action claims related to a previous lawsuit against Cryptsy. Lawyers for the plaintiffs, who announced the settlement Monday, have already won 11,325 BTC from this previous case. The plaintiffs created a webpage for potential Cryptsy victims – any individuals who used the exchange before 2015…

Introducing portfolios on Coinbase Pro

By Maggie Henry, product manager, Coinbase Pro. Customers can now trade out of multiple sub-accounts on Coinbase Pro. Portfolios allows traders to segregate trading strategies or operate multiple managed client accounts (if a fund of funds or asset manager). Volume-based pricing is calculated at the account level, so all your trading contributes to your 30-day volume. Many traders want to try new strategies in production, rather than leveraging sandbox environments — portfolios offer an easy way to create a new and segregated environment for new types of trades. Creation and…

Orchid (OXT) is now available on Coinbase

Starting today, Coinbase supports Orchid (OXT) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store OXT. OXT will be available for customers in all Coinbase-supported regions, with the exception of New York state. Additional jurisdictions may be added at a later date. Orchid (OXT) Founded in 2017 on the principle that the internet should be more open and more accessible to everyone, Orchid offers a decentralized VPN (virtual private network) service that connects individual internet users to a…