Coinbase prepares to service large transactions with cryptocurrencies

Coinbase prepares to service large transactions with cryptocurrencies

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The American Cryptocurrency Exchange Coinbase  is preparing to open a new office in Chicago and add the opportunity to trade blocks on its GDAX platform to attract institutional investors to it, writes Business Insider referring to the source familiar with the situation.

Coinbase, which is based in San-Francisco, will allow large customers to trade blocks, that is, place bids outside the main book of exchange applications, and thus enter into transactions, having a minimal impact on the price of the asset.

It is expected that the service will be provided through the GDAX exchange, which is one of the ten largest sites for trading cryptocurrencies in the world.

Another American stock exchange, Gemini, began to handle block trading last month.

In addition, similar services for institutional investors provide a number of companies serving over-the-counter trades. Goldman Sachs-funded start-up Circle recently doubled the minimum bid size for bitcoin transactions in its off-exchange area, citing growing demand from large traders.

Earlier, Coinbase announced the launch of a service for storing crypto-urrencies, aimed at investors wishing to make a deposit of $10 million.

Among other things, Business Insider reports that the operator of the exchange from San Francisco is preparing to open an office in Chicago, explaining this decision by the concentration of leading trading firms in this city. Previously, the media already paid attention to the fact that Coinbase shows a special interest in talents from Chicago in the formation of its senior staff.

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