Institutional Investors Buying $200-$400M Worth Of Crypto A Week

The question when or if institutional players will get into cryptocurrency might already been answered when, Brain Armstrong, CEO at Coinbase, revealed that around $200M-$400M a week of new cryptocurrency deposits come from institutional customers.

The Coinbase executive also reveals that it is not that institutional investors are not interested with cryptocurrencies , in fact they are, they are just apprehensive on cryptocurrency custodianship.

For the average cryptocurrency holder using a hardware wallet seem to suffice but when it comes to massive financial institutions with hundreds of millions of dollars worth of cryptocurrencies at stake this simply will do.

Extreme care needs to be exercised in the storage of such amount of digital assets and most financial institutions simply don’t have the infrastructure for a robust security system, equipped with the tools needed to properly safeguard any coins they are responsible for.

However cryptocurrency-centric companies like Xapo and Coinbase have stepped to address this gap with Coinbase Custody leading the market as the largest custodian for cryptocurrencies reaching $1 billion in assets this year.