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Bitcoin Exchange Wants to Be Digital Safe House for Hedge Funds

  • Coinbase will store digital coins for institutional investors
  • The firm estimates there’s $10 billion waiting on sidelines
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Bitcoin: What’s Coming in the Year Ahead

Coinbase, one of the most popular digital-coin exchanges for retail investors, has its eye on institutional cash looking for a way into cryptocurrencies.

The San Francisco-based firm will sell what it bills as digital-coin custodial services for money managers like hedge funds, sovereign wealth funds and family offices that have been hesitant to dive into the wild world of cryptocurrencies. The product, called Coinbase Custody, is designed for clients with stricter financial controls, Coinbase said.