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 <p class="is-style-lead">Coinbase Global, the second largest cryptocurrency exchange by market cap, plans to <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> a digital asset <a rel="noopener noreferrer nofollow" title="lending" href="https://thebittimes.com/tag/lending.html">lending</a> <a rel="noopener noreferrer nofollow" title="platform" href="https://thebittimes.com/tag/platform.html">platform</a> for large <a rel="noopener noreferrer nofollow" title="institutional" href="https://thebittimes.com/tag/institutional.html">institutional</a> <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> on Sep. 5.</p> 
 <p>According to a regulatory filing, the exchange has successfully secured $57 million in funding for this venture.</p> 
 <p>The platform, Coinbase Prime, is designed as a comprehensive prime brokerage service for US-based institutions. </p> 
 <p>It enables clients to both trade and securely store tokens. Furthermore, institutions have the option to lend their digital assets to Coinbase under standardized terms, which qualifies for a Regulation D exemption.</p> 
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 <p>Coinbase’s filing with the Securities and Exchange Commission (SEC) shows that the first sale was on Aug. 28, and by Sept. 1 (just four days later), Coinbase Prime had attracted five <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a>.</p> 
 <p>The <a rel="noopener noreferrer nofollow" title="platform" href="https://thebittimes.com/tag/platform.html">platform</a>’s <a rel="noopener noreferrer nofollow" title="launch" href="https://thebittimes.com/tag/launch.html">launch</a> is a reaction to regulatory problems caused by the SEC accusing the exchange of selling unregistered securities through its crypto-staking services. </p> 
 <p>Coinbase has strongly disagreed with the SEC’s classification, stating that its staking services shouldn’t be considered as securities.</p> 
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  <div class="wp-block-embed__wrapper"> <iframe title="Coinbase CEO Armstrong on Being sued by the SEC, future of regulation" width="1020" height="574" src="https://www.youtube.com/embed/j3RpmY06KzU?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
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 <p>As one of the repercussions, the exchange had to shut down its crypto-staking service in&nbsp;four states&nbsp;while the proceedings were resolved. </p> 
 <p>This came after the downfall of the industry in 2022, when the crypto lending industry also took a hit, with companies like Celsius&nbsp;and&nbsp;Genesis Global&nbsp;claiming bankruptcy. </p> 
 <p>The release of the Coinbase Prime <a rel="noopener noreferrer nofollow" title="platform" href="https://thebittimes.com/tag/platform.html">platform</a> effectively fills this pretty major&nbsp;market gap.</p> 
 <p>Coinbase has since received a few wins for the industry including the approval to offer cryptocurrency futures to U.S. retail customers back in August.</p> 
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Coinbase’s Base faced its first significant outage 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/coinbase-global-to-launch-lending-platform-for-institutional-investors-tbt61796.html">https://thebittimes.com/coinbase-global-to-launch-lending-platform-for-institutional-investors-tbt61796.html</a></p>

Coinbase Global to launch lending platform for institutional investors

TheBitTimes

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