As of September 28, 2018, Coinbase had 11.6 million institutional clients.
These clients include hedge funds, family offices, and high-net-worth individuals. The majority of these clients are based in the United States.
Coinbase has been aggressively pursuing institutional investors since early 2018. The exchange launched its first product Targeted at institutional investors, Coinbase Custody, in July 2018.
The product allows institutions to store digital assets with Coinbase’s private key management service.
In August 2018, Coinbase acquired Paradex, a decentralized exchange that allows users to trade directly from their wallet. The acquisition is part of Coinbase’s plan to build an “open financial system” that will make it easy for institutions to invest in digital assets.
Coinbase has also been working on a new product called Coinbase Prime, which is a platform designed for institutional traders. The product is currently in beta testing and is expected to launch in 2019.
Overall, Coinbase is making a big push to attract institutional investors. The exchange has already seen success in this area, and it is likely that the number of institutional clients will continue to grow in the future.