The United States Marshals Service (USMS) has selected Coinbase Prime to securely store and trade its “Class 1” (large cap) digital assets, marking a significant step for U.S. crypto regulation. This decision follows a thorough review process and highlights Coinbase’s robust track record in providing secure, institutional-grade services.
Large-cap digital assets like Bitcoin (BTC) and Ethereum (ETH) are categorized as “Class 1” by the USMS, requiring advanced custody and trading solutions. These assets often come from confiscations or government contracts.
Since 2014, Coinbase has partnered with various law enforcement agencies, showcasing its capability to manage digital assets on a large scale. As of March 31, 2024, Coinbase Prime safeguarded $330 billion in assets and recorded $256 billion in institutional trading volume for Q1 2024.
The USMS’s choice underscores growing institutional trust in Coinbase and signals the U.S. government’s recognition of cryptocurrency as a legitimate asset class.
