- Coinbase hits a milestone with over $1 billion AUM via their custodial wing.
- The CEO Brian Armstrong detailed that they have over 30 institutions that have signed up.
The popular U.S. cryptocurrency exchange, Coinbase, CEO Brian Armstrong, was recently speaking and sharing his update on the company’s custodian service. He detailed that the custodial wing of the organisation has received over $1 billion in cryptocurrency.
A the milestone being achieved and making a mark for the management of institutional and large capital investors. Armstrong said on the latest developments:
We launched our custody 12 months ago, we’ve just crossed $1 billion AUM or institutions, 70 institutions have signed up, adding about $150 million AUM a month, so, to a large degree that has been a success.
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