The U.S. Marshals Service (USMS) has selected Coinbase Prime to manage and trade its "Class 1" digital assets, following a comprehensive evaluation process. Class 1 digital assets, including major cryptocurrencies such as Bitcoin and Ethereum, are crucial assets primarily managed by the USMS to support federal law enforcement efforts.

These assets often come from various government seizures and contracts, necessitating stringent security measures and advanced trading capabilities. The partnership aims to streamline the handling, administration, and liquidation processes of cryptocurrencies, while expanding the range of digital assets managed within government forfeiture initiatives.

Coinbase Prime, a leading institutional platform, has proven itself as a preferred platform for institutions and large holders of digital assets. As of Q1 2024, Coinbase reported safeguarding $330 billion in assets and recording an impressive $256 billion in institutional trading volume. This partnership is a significant step in advancing the safe and efficient expansion of the crypto economy.

This news is unrelated to DeFi, BRC 20.