Coinbase launches escrow entity that processes cryptocurrency deposits

According to CityA.M., Coinbase has launched Coinbase Custody International Inc., a European entity that processes cryptocurrency deposits, in Dublin, Ireland. Coinbase said in an official blog that customer demand for institutional-grade regulatory services is driving this move. Another company spokesperson said that Coinbase Custody now has $ 8 billion in custodial assets and that "all collateral activities conducted by Coinbase" will also be migrated to Coinbase Custody International.