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Ethereum to Get Institutional Adoption Boost Because of This New Coinbase Product

Mon, 08/01/2022 - 20:30
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Alex Dovbnya
Coinbase’s institutional clients can now generate yield by staking Ethereum (ETH)
Ethereum to Get Institutional Adoption Boost Because of This New Coinbase Product
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Coinbase Prime, the prime brokerage offering of the largest U.S. cryptocurrency exchange, has launched Ethereum staking for domestic institutional investors.

The company claims that sophisticated clients can maximize rewards while minimizing risks if they choose its service. This might be an enticing opportunity for institutional investors who want to generate yield by staking.  

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The offering was launched out of beta last September. Prior to that, Coinbase acquired prime brokerage platform Tagomi back in May 2020.       

The second-largest blockchain is currently in the spotlight because of the much-awaited merge upgrade, which is expected to take place in September.

Coinbase Prime also supports Solana, Polkadot, Tezos, and other cryptocurrencies.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.