Coinbase Custody Now Has $1 Billion of Crypto Under Management, CEO Says

Coinbase CEO Brian Armstrong said the exchange’s custody service, Coinbase Custody, has $1 billion in assets under management (AUM) in just 12 months after launch.

In an on-stage discussion at CoinDesk’s Consensus 2019 event on Wednesday, Armstrong was asked by panel moderator and Wall Street Journal reporter Paul Vigna about the status of institutional involvement in the cryptocurrency industry.

Armstrong replied:

“We launched our custody 12 months ago, we’ve just crossed $1 billion AUM or institutions, 70 institutions have signed up, adding about $150 million AUM a month, so, to a large degree that has been a success.”

Read more on Coindesk.com

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