The US Marshals Service (USMS), an agency within the US Department of Justice that is responsible for asset forfeiture, announced that it selected Coinbase Prime to provide custody and advanced trading services for the agency’s ‘Class 1’ (large cap) digital assets, which it manages centrally in support of federal law enforcement.
The USMS conducted a review that evaluated a range of solutions, ultimately choosing Coinbase due to its track record and ability to securely provide institutional-grade crypto services at scale.
Coinbase has a longstanding history of supporting law enforcement agencies, dating back to the founding of our law enforcement programme in 2014. Now, Coinbase works with every major US federal, state, and local law enforcement agency, as well as international agencies on every continent. Growing the crypto economy means promoting safe and efficient markets, and these partnerships are critical to the company’s mission.
Coinbase Prime is a commercially and publicly available service. Since launching in 2021, Prime has become the platform-of-choice for institutions and large holders of digital assets, including being the primary partner for a vast majority of the spot crypto ETFs. As of March 31, 2024, Coinbase safeguarded USD 330 billion of assets. Coinbase recorded USD 256 billion in institutional trading volume in Q1 2024.
In June 2024, Coinbase and Stripe have partnered to enhance cryptocurrency adoption through improved financial infrastructure. This collaboration includes three key integrations: adding USDC on Base to Stripe’s crypto payouts for faster, cheaper transfers to over 150 countries, enabling quicker fiat-to-crypto conversions in the US, and incorporating Stripe's onramp into Coinbase Wallet for instant crypto purchases. These integrations aim to provide global users with faster, cost-effective financial transactions, advancing the future of money by leveraging crypto’s borderless and efficient nature.
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