Coinbase Adds Cross-Border Wire Transfers for High-Volume Customers in Europe, Asia

High-volume Coinbase Pro and Prime users in Europe and Asia can now fund their accounts via international SWIFT wire transfer from non-United States bank accounts, a post on the official Coinbase blog announces Jan. 22.

The post also notes that “select Coinbase Prime customers globally will also have access to our US and European over-the-counter (OTC) trading desks and Coinbase Custody.” Coinbase Custody — which focuses on serving  institutional customers and storing large amounts of cryptocurrencies — recently obtained approval to operate in the state of New York, after launching in July.

According to the announcement, the OTC trading desk — which Coinbase launched in November — lets customers “execute large volume trades with minimal price slippage.”

Institutional investors have increasingly been the target of cryptocurrency-related products entering the market this past year. In November, an Israeli company launched what was reportedly the country’s first dedicated crypto investment firm for institutional investors.

Earlier this month, crypto exchange Seed CX — a Chicago-based licensed platform targeting institutional clients — launched a digital asset wallet solution with on-chain settlement.

Today, news broke that top 5 cryptocurrency exchange Huobi has plans to launch its own stablecoin this year as part of its 2019 road map.