Coinbase has become the first cryptocurrency platform to be considered a full-service prime broker, offering a comprehensive suite of services including trading, custody, financing, derivatives, and cross-margining. According to John D'Agostino, head of strategy at Coinbase Institutional, the platform has achieved this status by assembling all the necessary components into a single stack, something its rivals have not yet accomplished.
In traditional finance, only a handful of firms, such as Goldman Sachs and Morgan Stanley, qualify as full-service prime brokers, and the same is now true in the crypto space, with Coinbase standing alone. The company's institutional platform, Coinbase Prime, holds over $350 billion in assets under custody and serves as custodian for more than 80% of U.S.
bitcoin and ether ETF assets, solidifying its position as a key bridge between traditional finance and crypto markets.