Coinbase Has Raked in $14B in New Institutional Assets Since April

Coinbase Has Raked in $14B in New Institutional Assets Since April
Coinbase staff in 2014
(CoinDesk Archives/Flickr)

Coinbase has seen a $14 billion increase in institutional assets under custody since April, its head of institutional coverage at Coinbase said in a published on Friday.

Brett Tejpaul told interviewer Eliisabetta Bartolini, partner at Heidrick & Struggles, that institutional assets under custody were $6 billion when he and have grown to $20 billion today. Tejpaul came to Coinbase after 25 years in sales and trading in the traditional financial markets with stints at Barclays and J.P. Morgan. 

Tejpaul credited this growth in part to in May 

“It radically transformed our ability to cater to institutional clients that want to use smart order routing and algorithmic execution,” he said. “Our trading volumes are 20 times what they were in the beginning of the year.”

The firm is now measuring new capital coming in for in the billions, Tejpaul said. The veteran banker also said that adding J.P. Morgan Chase as its banking partner and Deloitte as its auditor has given Coinbase more compliance credibility. 

Bitcoin Is the Biggest Big Short

Previous

China’s Xi Asks G20 Countries to Be ‘Open and Accommodating’ to CBDCs

Next

More