Around three months after the Californian cryptocurrency exchange Coinbase announced its release of institutional products/services, its Vice President & General Manager, Adam White, revealed five core principles to guide institutional investors.
On 20 August 2018, Coinbase’s Vice President & General Manager, Adam White, revealed through the company’s Medium blog its five core principles, which aim to guide institutional investors.
Adam White commented why these principles are necessary:
“Today, we’re sharing a set of core principles that will guide our institutional business. This set of fundamental beliefs will act as our North Star as we design, develop, and operate our products. Ultimately, we intend for these core principles to drive us toward our goal of operating the most trusted venue for storing, trading, and interacting with the world of cryptocurrency.”
These are the five principles:
The moment regarding the announcement’s publication is quite surprisingly, as it coincides with the day when the Virtual Commodity Association (VCA) revealed about the release of its working group, made up of Gemini, Bittrex, Bitstamp, and bitFlyer as the first four members, which as reported by the VCA “will work towards the goal of establishing an industry-sponsored, self-regulatory organization (SRO) to oversee virtual commodity marketplaces.”
Bearing in mind the interest of the U.S. The Securities and Exchange Commission (SEC) regarding the manipulation in the Bitcoin market, it is notable that the Californian company Coinbase still believes in these principles and demonstrates once again that it is a safe platform to work with.
Coinbase was founded in 2012 by Brian Armstrong, Fred Ehrsam and has its headquarters in San Francisco, California. The company enjoys an extensive portfolio of users as well as services plus products. In 2017, the company reported revenue of $ 1 billion.
Author: Adriana Midrigan