Coinbase has achieved a significant milestone by becoming the only full-service prime brokerage in the cryptocurrency industry. According to John D'Agostino, head of strategy at Coinbase Institutional, the company has successfully assembled a comprehensive suite of services, including trading, custody, financing, derivatives, and cross-margining, which is typically offered by only a handful of top-tier firms in traditional markets. This development positions Coinbase as a one-stop-shop for institutional investors, allowing them to access a wide range of services under one roof. The company's flagship platform, Coinbase Prime, has over $350 billion in assets under custody and serves as a custodian for more than 80% of U.S.
bitcoin and ether ETF assets. With the recent introduction of cross-margining, Coinbase has completed its full-service prime brokerage offering, making it an attractive partner for traditional financial institutions and a key player in the growing crypto market.