IDEG, Coinbase Custody Launch Bitcoin Trusts in Apparent First for Asia

Digital asset manager IDEG is launching what it claims are Asia’s first Bitcoin (BTC) trusts. The two new funds — Asia Bitcoin Trust I and Atlas Mining Trust I —  were officially announced in a press release on Dec. 8, confirming an earlier disclosure from the firm in Hong Kong in late November.  Coinbase Custody will act as custodian for both trusts, with Asia-based Profound Trust Company acting as trustee. The combined size of the two trusts is $200 million. Bringing old money to a new sector The first of…

Introducing DAI, the first stablecoin on Coinbase Card

By JD Millwood, Head of Growth Marketing Today, we launched full support for DAI — the first stablecoin available on Coinbase Card. Paying with a stablecoin brings something new to the Coinbase Card experience and using a cryptocurrency with stable purchasing power gives more opportunity and choice to customers. For customers wanting to spend crypto with less volatility, DAI could be the answer. DAI aims to always be worth one US Dollar, which offers more certainty to customers when picking up last-minute Christmas gifts, rounds of mulled wine for the…

Coinbase Card Rolls out DAI as First Supported Stablecoin: Official

Coinbase Card, a crypto-powered Visa debit card from major crypto exchange Coinbase, now supports Dai (DAI), a stablecoin pegged to the United States dollar. According to a blog post on Dec. 6, Dai is the first stablecoin that is available on Coinbase Card, alongside major cryptocurrencies such as Bitcoin (BTC) and Litecoin (LTC). As 1 DAI is equivalent to $1, the addition of the stablecoin to the Coinbase Card aims to allow customers to spend crypto with less volatility, the announcement says. Cointelegraph has requested comment from Coinbase’s team on…

Coinbase Denies Report of $150M Acquisition of Tagomi Brokerage Firm

Coinbase, a major American cryptocurrency exchange and wallet service, has not acquired digital currency brokerage firm Tagomi. On Nov. 29, sources told CoinDesk that Coinbase acquired Tagomi for $150 million that morning, following purported negotiations between the firms last month. According to The Block, Tagomi’s lending and borrowing services made it a tempting target for an acquisition. Responding to Cointelegraph’s request for comment on the purported acquisition, Coinbase VP of communications Rachael Horwitz simply said, “100% false.” Tagomi had reportedly been targeting more retail trading clients, high-net-worth individuals and active…

Coinbase Secures Patent for System to Identify Non-Compliant Accounts

Major American cryptocurrency exchange Coinbase has been awarded a patent for a system that identifies and flags non-compliant accounts. A filing with the United States Patent and Trademark Office on Nov. 19 details a system containing a scoring model that “determines a compliance score for each one of the accounts based on the respective factors associated with the respective account.” The system then compares the compliance score for each account to detect those accounts that fail compliance standards. Eliminating non-compliant accounts After a flagging unit identifies purportedly non-compliant accounts, the…

Coinbase at AWS re:Invent 2019

By Drew Rothstein Photo by John Such on Unsplash The AWS re:Invent conference is coming to Las Vegas the week of December 2–6, and Coinbase is representing! Our incredible Product and Engineering team members will be speaking about site reliability, scaling our blockchain infrastructure, and teaching about cryptocurrencies. Come and join us! AWS re:Invent is the annual Amazon Web Services (AWS) learning conference in Las Vegas that attracts developers, system administrators, architects, and technical decision makers from all over the cloud computing world. Last year, they had an estimated attendance…