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Coinbase Custody acquires Xapo’s institutional business

Coinbase Custody has completed an acquisition of Xapo’s institutional businesses. This acquisition caps off a tremendous period of growth and innovation for Coinbase Custody.

In just over one year since launch, Coinbase Custody has grown to over $7 billion in Assets Under Custody (AUC) stored on behalf of more than 120 clients in 14 different countries, making it the largest, most globally recognized and most trusted institutional custodian in the world. From the start, our goal has been to build the trusted foundation for institutional investment in Bitcoin (BTC) and crypto assets in general. We’re thrilled to help enable some of the tremendous demand for this emerging asset class.

Xapo has long been a pioneer in the storage of crypto assets, leading the industry in the creation of security techniques that have kept their customers’ cryptocurrency safe since 2014. Xapo was founded with the mission of making Bitcoin more secure and accessible. Coinbase will extend Xapo’s legacy and bring it yet another step closer to achieving its mission.

Since 2012, Coinbase has served as the world’s onramp to Bitcoin and many other cryptocurrencies. Through our consumer products, Coinbase has helped more people experience their first crypto transactions than any other company. 

In addition to custody, we’re excited to explore new ways to monetize and leverage crypto assets such as staking, borrowing against crypto portfolios and lending crypto to trusted counterparties.

Coinbase is committed to serving a wide spectrum of institutional clients including hedge funds, family offices, endowments and proprietary trading desks as they decide to onboard crypto.

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