Coinbase Inc., located in the US, has been designated by U.S. Pat. Securities and Exchange Commission have been authorized to acquire three companies that allow Coinbase to list security tokens and offer a wider range of financial services.
Coinbase is making progress

Coinbase has made tremendous progress in legitimizing crypto-currency investment and delivering services to the public in an attractive, trusted package. In early June, Coinbase announced the acquisition of Keystone Capital Corp. an, a California-based financial services company to become a SEC-regulated broker-dealer.

After more than a month, the SEC and the Financial Industry Regulatory Authority (FINRA) have officially authorized Coinbase to accelerate the acquisition of Keystone Capital and the purchase of two other financial companies – Venovate Marketplace Inc. and Digital Wealth LLC – according to Bloomberg.

The successful acquisitions will allow Coinbase to be licensed as a registered broker-dealer, investment advisor and alternative trading system, significantly expanding the range of trading services and coins available.

Coinbase is now allowed to list “security tokens”

SEC oversight will also allow Coinbase to list blockchain-based security tokens, a term that is likely to encompass all ICOs. This also theoretically increases the chances of Ripple’s (XRP) listing, after many speculated that Coinbase does not list the third largest cryptocurrency by market capitalization because it may be considered a security.

Coinbase’s Custodial Service, announced earlier this month, eliminates barriers to eagerly awaited institutional investors entering the stagnant marketplace and helps establish Coinbase as one of the most trusted portals in the world of crypto currency assets.

image by shutterstock

Get the latest Bitcoin News on The Bitcoin News
Our Social Networks:
Facebook Instagram Pinterest Reddit Telegram Twitter Youtube