Coinbase has developed some plans and projects, such as setting up an office in Chicago and launching block trading in the near future. The company thinks it can attract more corporate customers with these projects. The related news was made by the Business Insider source and is mentioned as a source close to the institution. Coinbase did not comment on either cases.
Block trading is an option that allows traders to order large transactions outside the normal order book that the stock market has. This option is considered indispensable for corporate customers when it comes to crypto money . A number of factors can be listed as follows: first, the lack of liquidity, and secondly, the potential to create significant changes in the value of the coin of such institutional and large customers.
Block trading is doing “behind the scenes” of the original owners’ book of orders to remove these problems, and explains the operations delays.
Incredible Growth of Coinbase
This is just one of the innovations offered by Coinbase this year. In addition to this, the company recently launched a service called Coinbase Custody , a Coinbase Index Fund, and a Portfolio Management service for companies that want to store over $ 10 million in crypt money.
The company has also added a number of senior executives since the beginning of this year.
The decision of to open an office in Chicago may be a sign that the betting city is a base for professional trading companies. CCN also reports that Coinbase may have plans to include some of the talents that this Windy City (a nickname used for Chicago) has.
As the Blockchain industry begins to take an institutional shape, it can be said that these block trading operations in the crypto-currency world are becoming more widespread. On April 9,the Winklevoss twins were in the middle of the month of their stock exchange Gemini . They would offer block trading options for Bitcoin and Ethereum.
In addition, the crypto exchange supported by Circle’s Goldman Sachs announced last month that the minimum possible Bitcoin transaction order within the stock market has doubled to $ 500,000 .