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      Coinbase Expands Institutional Services, Betting Banks Are Both Rivals and Major Clients

      PANews reported on October 8, citing Bloomberg, that U.S. crypto exchange Coinbase is expanding its services for traditional financial institutions to capitalize on the growth of institutional crypto adoption. Liz Martin, head of Coinbase Institutional, said prime brokerage is one of the company's fastest-growing businesses. The company announced on Thursday that it will custody Circle's USDC stablecoin balances in Samsung Wallet through Coinbase Prime, with USDC becoming the default U.S. dollar stablecoin for the payment service, and the U.S. market is expected to launch by the end of this month; on Wednesday it also announced the completion of its Deribit integration, which will connect liquidity between U.S. and international crypto derivatives markets. Over the past year, Coinbase's stock price has fallen by more than 50%.


      Source: PANews
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      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud