Coinbase, one of the most popular and trusted crypto platforms in the world, has announced that it will expand its newly developed custodial services into the Asia market.
The move is seen as two-fold. First, to attract major institutional players in the region and to provide custodial services for crypto exchanges in need of another layer of protection from professional hacking gangs.
The new roll-out supports international (SWIFT) wire transfers which allow Coinbase clients to fund their holdings even without a U.S bank account.
In an interview, Kayvon Pirestani, head of institutional sales in Asia for the company, said:
Asia is super important to the crypto ecosystem. It’s home to some of the most active retail traders in the world as well as a lot of institutional investors.
Coinbase has long foreseen its growth in Asia. In June last year, the exchange opened its offices in Japan and appointed for the position of CEO Coinbase Japan, Nao Kitazawa.
Kitazawa is an experienced fintech leader who has previously worked for Morgan Stanley Japan as an investment banker and served as the COO of Money Design, a firm that played an important role in “pioneering automated investment advice platforms in Japan.”
Kayvon Pirestani, who previously led institutional sales at Coinbase New York has been transferred to the Tokyo office and carry on the work that he did in the U.S.
He will lead a team that will provide 24/5 support for the exchange’s range of institutional products and services.
