0
📰 News
736 views

Coinbase Custody Launches Cryptocurrency Fund With Wilshire Phoenix

  • Antony Koroid
    📰 News

    One of the world-leading cryptocurrency exchanges Coinbase decides to create a new investment mechanism for the establishment together with Wilshire Phoenix


Coinbase Custody Launches Cryptocurrency Fund With Wilshire Phoenix

The Coinbase exchange has decided to create a new investment mechanism for the establishment together with Wilshire Phoenix.

One of the world-leading cryptocurrency exchanges Coinbase has entered into a partnership agreement with Wilshire Phoenix asset management company. The deal aims to establish a new $500-mln fund that will offer institutional investors the exposure to digital assets.

Source of income

New partners suggest investors will receive a steady income due to the risk reduction of the market volatility and the current fall of cryptocurrency prices. At the same time, the fund refuses from derivatives and other leveraged instruments to achieve its main goal in order to to limit counterparty exposure and the additional fees associated with such investments.

👉MUST READ

Coinbase Crypto Exchange Expanding to Japan, Plans to Strike Partnership With Mitsubishi

Coinbase Crypto Exchange Expanding to Japan, Plans to Strike Partnership With Mitsubishi

According to Wilshire Phoenix’s founder and CEO Bill Hermann, the partnership with the leading U.S. crypto exchange provides his company with “the best-in-class platform for safely store digital assets.”

The new investment tool is the latest addition to an array of institutional products offered by Coinbase. News of a joint venture between Coinbase Custody and New York-based Wilshire Phoenix came after the cryptocurrency trading platform headquartered in San Francisco raised $300 mln in equity funding, which brought its market valuation up to $8 bln.

👉MUST READ

No, Coinbase IPO Is Not Happening Anytime Soon

No, Coinbase IPO Is Not Happening Anytime Soon

The list of companies that took part in the E series of the financing round includes Polychain Capital, Y Combinator Continuity, Wellington Management и Andreessen Horowitz. According to the company’s blog post, Tiger Global Management led the latest investment round of Coinbase.

Cover image via cryptocomes.com
The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

The journalist with 10 years of experience in print and digital media. Last 2 years deeply immersed into the cryptocurrency & blockchain technology area.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings