U.S. Marshals Service chooses Coinbase to safeguard, trade its large cap digital assets portfolio

Today, the U.S. Marshals Service (USMS), an agency within the U.S. 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 competitive due diligence process that evaluated a range of solutions, ultimately choosing Coinbase due to our strong 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 program in 2014. Today, Coinbase works with every major U.S. federal, state, and local law enforcement agency, as well as international agencies on every continent. Growing the cryptoeconomy means promoting safe and efficient markets, and these partnerships are critical to our mission.

Coinbase Prime is a commercially and publicly available service. Since launching nearly three years ago, 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 $330 billion of assets. Coinbase recorded $256bn in institutional trading volume in Q1 2024.