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:
Furthermore, White said that along with the institutional products, this set of core rules aims to move closer to "an open financial system."
Coinbase website image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.