Coinbase Custody to Provide Custodial Services to iTrustCapital for Retail Client Digital Assets

The growth and adoption of cryptocurrencies requires trusted partners capable of safely securing and providing liquidity for these digital assets. Recently, iTrustCapital announced that Coinbase Custody will provide digital asset custodial and liquidity services for its large retail client base within the tax-advantaged crypto IRA sector. Against the backdrop of an uncertain macroeconomic and geopolitical landscape, the decentralized nature of Bitcoin and other cryptocurrencies has risen in appeal. As estimated by KPMG, as of May 2023, decentralized finance represents $47.479 billion of liquidity stored across various blockchains. With more investors engaging in multi-asset investing, with cryptocurrencies being a part of their asset allocation, safely securing these assets is paramount. The growth is also evident on the institutional front, as institutional investors are set to increase digital asset allocations in their portfolio to 7% by 2027, as detailed in a recent report commissioned by crypto exchange OKX.