Global Digital Asset Management Leader Enhances Custodial Services to Provide Best-in-Class Structure for Investors
TORONTO, May 16, 2023 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose Investments” or “Purpose”) today announced that Coinbase Custody Trust Company, LLC. (“Coinbase”), a New York State chartered limited purpose trust company, a subsidiary of Coinbase Global Inc. and one of the world’s largest and most-trusted institutional digital asset custodians, will act as an additional sub-custodian for the funds it manages, which hold digital assets (the “Crypto Funds”) effective as of May 15, 2023.
Purpose has entered into an agreement with Coinbase pursuant to which Coinbase will act as an additional sub-custodian for the Crypto Funds. Coinbase is licensed by the New York State Department of Financial Services. Coinbase Global Inc. is a publicly traded company with assets in excess of $100 billion.
“Digital assets offer investors the potential to get
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