Kalshi Partners with Coinbase for USDC Custody
- Kalshi collaborates with Coinbase for USDC custody on its platform.
- Partnership enhances security and compliance standards.
- Focus on institutional-grade custody boosts trust.
Kalshi partners with Coinbase Custody to securely manage USDC deposits on its prediction market platform, enhancing financial trust and security in the US-based exchange sector.
This collaboration represents a significant move toward greater institutional involvement and compliance, raising industry standards for USDC operational security on prediction market platforms.
Kalshi, a regulated US-based prediction market platform, has partnered with Coinbase Custody to manage USDC deposits. This collaboration aims to safeguard all USDC transactions on Kalshi’s platform.
Both companies announced their partnership, highlighting the importance of secure USDC custody. Led by Tarek Mansour and Luana Lopes Lara, Kalshi integrates Coinbase Custody for enhanced asset management.
The partnership signals enhanced security for Kalshi users, ensuring USDC is stored and managed by a trusted entity. This move aligns Kalshi with traditional financial market standards.
No other cryptocurrencies are directly impacted, but USDC benefits from increased institutional adoption. The partnership reflects deepened institutional involvement similar to traditional finance levels.
Official reports indicate that Kalshi operates under CFTC regulation, maintaining a compliant exchange environment. The integration with Coinbase Custody upholds regulatory standards.
Potential outcomes include improved platform reliability and seamless USDC settlement, thanks to Coinbase Custody. Partnerships like these, though rare in prediction markets, enhance operational trust and security.
“Our new partnership with Coinbase Custody brings us one step closer to our goal by safeguarding all USDC held on Kalshi with one of the most trusted names in digital asset custody.” — Tarek Mansour, CEO & Co-founder, Kalshi
