The biggest cryptocurrency exchange in the U.S. just set up its core principles for its institutional financial products.
Three months after Coinbase introduced its suite of institutional products in May, the startup has unveiled a series of "fundamental beliefs" about how the company will operate and develop its institutional investor-focused business lines.
According to an August 20 blog post written by Adam White, Coinbase's vice president and general manager, the leading cryptocurrency exchange has set up five core principles.
These include the operation of "fair and orderly" markets, enforcing transparent market rules, offering "fair access to all market participants," disclosing listing practices and market rules publicly, and safeguarding clients "with institutional-grade infrastructure and processes."
As White explained:
"This set of fundamental beliefs will act as our North Star as we design, develop, and operate our products. Ultimately, we intend for these core principles to drive us toward our goal of operating the most trusted venue for storing, trading, and interacting with the world of cryptocurrency."
Furthermore, White said that along with the institutional products, this set of core rules aims to move closer to "an open financial system."
As CoinDesk reported on May 15, Coinbase launched Coinbase Custody, a product specifically designed for institutional investors who are interested in cryptocurrency adoption. Coinbase began accepting deposits for the service early last month.
Coinbase website image via Shutterstock