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.