Institutional investors are a great part of crypto mass adoption these days. Check out the latest reports about this revealed by Coinbase’s CFO.
Coinbase CFO talks crypto adoption
A top executive at leading US-based crypto exchange platform Coinbase says that staking for blue-chip investors is likely to grow in popularity in the coming years. This is an extremely important part of people who adopt crypto and the blockchain.
In a new analyst call, Coinbase chief financial officer Alesia Haas says that the firm recently offering crypto staking for institutions will be felt further down the line rather than in the near term.
Haas said that Coinbase has “onboarded institutional clients” by offering them a delegated staking service similar to what’s available for retail customers.
“Previously the way that institutions could have access in staking is via Coinbase Cloud and so they could have used our service to run their own node.”
Haas continued and said the following:
“But offering it as the delegated staking service similar to what we have for retail customers, we just onboarded institutional clients.”
Haas explained the fact that this tactic will flourish once Coinbase starts offering large-scale institutions liquid staking for assets they have already massively pooled together, citing top altcoin Ethereum (ETH) as an example.
“What I would share with you is its early days. We do see a lot of institutions holding Ethereum, as an example, as a stakable asset. However what I would comment there is we haven’t yet rolled out a truly liquid staking option for ETH2.”
Coinbase made headlines a lot lately in the crypto space.
Coinbase is predicting that the downward trend recorded in the crypto market in the second quarter (Q2) is likely to continue into the third quarter (Q3).
According to Coinbase, two metrics are sending warnings on the likely fortunes of the crypto exchange during the third quarter – trading volumes and the number of monthly transacting users (MTUs). Check out our previous article in order to learn more details about this.