- Coinbase is arguably the largest exchange by the number of assets under its custody.
- The exchange is gradually achieving the ‘digital bank’ status.
The leading cryptocurrency exchange in the United States has continued to be the pacesetter in the cryptocurrency industry. Its keen eye on security has been an attraction to many who seek the safekeeping of their crypto assets. Recent reports indicate that, Coinbase holds a massive 966230 Bitcoin in the cold wallet.
The report shows the quest by Coinbase to become a ‘digital bank’ is yielding great results. Coinbase stores digital assets deposited with for safe keeping. It has become a trusted entity due to security guaranteed as well as the insurance fund put in place.
The 966,230 BTC is worth about $7.1 billon ahead of BitMEX 265,140 BTC ($1.94 billion). Bitfinex exchange comes in third in terms of assets under custody with 146,120 BTC. Other exchanges include Kraken with 136,780, Bittrex 131,140 BTC and Coincheck 35,090.