Coinbase CEO Brian Armstrong says institutional investors are important as 90% of the capital is with them

The arrival of institutional in the cryptocurrency space had provided a much needed boost to the cause of mainstream adoption of cryptocurrencies as the addition of known entities would push the industry into a more positive light. This was the shared by Coinbase Chief Executive Officer [CEO] Brian Armstrong as he sat down to discuss the implications of institutional and Coinbase Custody in a recent interview.

Armstrong stated that mattered a lot for Coinbase because of the sheer hold it had over the general population. He claimed that since 90 percent of the capital was with institutions, it would be a great opportunity to tap into the ripe market. In his words:

“A few years ago when we were getting started as a business and a retail brokerage, we realized that we need institutional money for the cryptocurrency industry to mature and grow. Most of the money, take any industry is with the and it is not the case with just crypto like many people think.”

The CEO also spoke about the requirements which institutional need, stating that it is a different ball game from retail investors. This also led him to segway into the functions of Coinbase Custody and the reasons for its establishment. According to him:

“The Coinbase Custody is a New York charter and we realized that since crypto is booming, we need a service that targets the institutions too. That’s the kind of thing that did not exist back then and we are glad we did it. We wanted to create a trusted body in the that could handle funs and that was the genesis of Custody.”

Armstrong further added that institutions had become a large part of the crypto-verse with features like Over the Counter [OTC] trading and block trades becoming a regular phenomenon. He revealed that institutional made up 60 percent on and stated that the organization would continue to invest more resources and assets into it.

The post Coinbase CEO Brian Armstrong says institutional investors are important as 90% of the capital is with them appeared first on AMBCrypto.

Post written by our friend Akash Anand and Syndicated from ambcrypto
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