{"id":30807,"date":"2024-04-01T10:24:09","date_gmt":"2024-04-01T10:24:09","guid":{"rendered":"https:\/\/icoinmarket.com\/what-it-means-for-you\/"},"modified":"2024-04-01T10:24:09","modified_gmt":"2024-04-01T10:24:09","slug":"what-it-means-for-you","status":"publish","type":"post","link":"http:\/\/icoinmarket.com\/what-it-means-for-you\/","title":{"rendered":"What It Means for You"},"content":{"rendered":"<p> <br \/>\n<br \/><\/p>\n<div>\n<p>Coinbase announced its plan to shift a significant portion of its corporate and customer USDC balances to the Base network. <\/p>\n<p>Max Branzburg, Head of Consumer Products at Coinbase, emphasizes that this strategic transition aims to enhance the efficiency and security of managing customer funds. <\/p>\n<h2 class=\"wp-block-heading\" id=\"h-coinbase-embraces-blockchain-technology\">Coinbase Embraces Blockchain Technology <\/h2>\n<p>This pivot towards storing more assets on-chain marks a step forward in digital asset management, establishing a precedent for other companies to follow.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cThis enables us to manage and secure customer funds with lower fees and faster settlement times, with no impact to the Coinbase user experience,\u201d Branzburg stated. <\/p>\n<\/blockquote>\n<p>Coinbase secures customer digital assets in hosted digital asset wallets, ensuring their safekeeping. Indeed, the company maintains the principle that these assets belong solely to the customer. As a result, the team meticulously designs the infrastructure to secure digital assets, ensuring seamless access to trading and other services.<\/p>\n<p>With real-time internal ledger systems, Coinbase eliminates the risk of commingling customer funds with corporate assets. This practice is commonly seen in traditional banking and what let to the collapse of crypto exchange FTX.<\/p>\n<p>Read more: Coinbase Review 2024: The Best Crypto Exchange for Beginners?<\/p>\n<p>Crypto investor Ryan Sean Adams views Coinbase\u2019s on-chain migration as a sign of a broader industry shift.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cEventually all crypto exchanges will move onchain. Then banks. Every asset is a future token. Every bank is a future chain. Ethereum is the world\u2019s settlement layer,\u201d Adams said. <\/p>\n<\/blockquote>\n<p>This sentiment captures the potential of blockchain technology in reshaping the financial system. Indeed, Coinbase appears to be leading the charge towards a more decentralized and efficient future.<\/p>\n<div id=\"bic-c-disclimer-f74ae2e8-ae2b-471d-8fe3-3dc1181e4c34\" class=\"p-5 mt-6 rounded-lg border border-grey-200 \">\n<div class=\"pl-8 text-grey-700 [&amp;_p:not(.dh)]:!p4 [&amp;_p:not(.dh)]:!p4--ns [&amp;_p:not(.dh)]:!mb-0\">\n<p class=\"p3 p3--ns mb-2 unstyled-content-p dh\">Disclaimer<\/p>\n<p>In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our\u00a0Terms and Conditions,\u00a0Privacy Policy, and\u00a0Disclaimers\u00a0have been updated.<\/p>\n<\/div>\n<\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/beincrypto.com\/coinbase-transfer-funds-base-network\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase announced its plan to shift a significant portion of its corporate and customer USDC&#8230;<\/p>\n","protected":false},"author":1,"featured_media":30808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[26],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What It Means for You - iCoinMarket<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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