Coinbase has achieved a significant milestone by becoming the only full-service prime brokerage in the crypto 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 unparalleled in the industry. This achievement is notable, given that only a handful of firms in traditional markets, such as Goldman Sachs and Morgan Stanley, offer similar full-service prime brokerage capabilities.
In the crypto space, Coinbase's institutional platform, Coinbase Prime, has become a one-stop-shop for hedge funds and asset managers, allowing them to trade, store, and finance digital assets under one roof. With over $350 billion in assets under custody and serving as custodian for more than 80% of U.S.
bitcoin and ether ETF assets, Coinbase has established itself as a key bridge between traditional finance and crypto markets.