Breakthrough: Coinbase Custody Completes First Offline OTC Crypto Trade
[ChainDD report] March 14 (ChainDD) Coinbase, the largest cryptocurrency exchange in U.S., announced on March 13 that its custody service for institutional investors—Coinbase Custody completed first off-the-counter (OTC) trade directly from cold storage. It is said to be a major unlock that allows clients easily and immediately gain liquidity on their offline funds.
Coinbase said Coinbase Custody is now directly integrated with Coinbase’s OTC desk. Custody clients can leverage the OTC desk to price and confirm trades before moving funds.
Traders used to transfer assets from cold storage to online hot storage, or wallets of exchange platform, before they want to execute transactions. And it normally takes 24 to 48 hours to complete the withdrawal. Now Coinbase Custody clients can directly purchase and settle OTC assets without withdraw their funds out of cold storage firstly.