Coinbase Prime

What is Coinbase Prime?

Coinbase Prime (formerly Coinbase Custody) is a comprehensive institutional-grade prime brokerage platform designed to serve accounting and treasury teams. It combines **secure asset custody**, **trading infrastructure**, and **financing services**—all in one platform—to help organizations manage digital assets at scale :contentReference[oaicite:1]{index=1}.

Key Features of Coinbase Prime

• **Integrated Trading, Financing, and Custody** – Access deep liquidity and advanced trading tools alongside insured custody, streamlining workflows for accounting-led operations :contentReference[oaicite:2]{index=2}.
• **Multi-Venue Connectivity** – Connect Coinbase Prime to major exchanges and liquidity pools, consolidating transaction data for unified cost-basis tracking :contentReference[oaicite:3]{index=3}.
• **Crypto Financing Solutions** – Utilize financing options like margin, lending, and shorting to fine-tune capital efficiency—data from these activities feeds directly into accounting reports :contentReference[oaicite:4]{index=4}.
• **Customizable Prime Brokerage** – Choose between custody-only setups with staking and governance, or full prime functionality, aligning with treasury and accounting team needs :contentReference[oaicite:5]{index=5}.

How Coinbase Prime Supports Accounting Workflows

When integrated with Cryptoworth’s accounting platform, Coinbase Prime becomes a powerful source of truth. It provides timestamped transaction flows, financing entries, staking rewards, and custody records—enabling automated journal entries and ledger mapping without manual CSV imports.

Key financial reporting benefits include:

• **Accurate Cost Basis and Weighted Average Cost** – Pull detailed transactional and financing data into Cryptoworth to calculate cost basis and WAC precisely, aligning with GAAP standards :contentReference[oaicite:6]{index=6}.
• **Gain/Loss Reporting** – Generate real-time gain/loss insights for digital assets using integrated data from trading and custody modules :contentReference[oaicite:7]{index=7}.
• **Reconciliation and Sanity Checks** – Automatically reconcile on-chain and accounting entries, catching inconsistencies before month-end :contentReference[oaicite:8]{index=8}.

Security & Compliance

Coinbase Prime is a regulated, SOC‑audited custodian offering industry-leading security controls and insurance coverage. It combines hot and cold storage, physical vaults, MPC technology, and staking governance options—supporting accountants’ needs for auditability and internal controls :contentReference[oaicite:9]{index=9}.

Scale & Institutional Adoption

Designed for institutional scale, Coinbase Prime supports 420+ assets in custody, connects to multiple trading venues, and processes over $300 billion in quarterly AUM. Its flexible API and volume-based pricing ensure operational efficiency for large accounting environments :contentReference[oaicite:10]{index=10}.

Frequently Asked Questions

1. Can Cryptoworth calculate Weighted Average Cost (WAC) using Coinbase Prime data?

Yes. Through integration, Cryptoworth ingests transaction and financing data from Coinbase Prime to calculate **WAC and cost basis** across wallets. This is essential for accurate accounting and valuation reporting. Explore our Crypto Cost-Basis Calculator.

2. Does Coinbase Prime support automated gain/loss reporting?

Absolutely. Cryptoworth consolidates trading data—including spot, margin, and staking—into gain/loss statements that tie directly into your accounting ledgers, streamlining month-end close without manual export/import processes.

3. What custody security measures support accounting compliance?

Coinbase Prime provides SOC‑1 and SOC‑2 auditing, MPC-backed custody, YubiKey 2FA, insured storage, and optional governance tools. When combined with Cryptoworth’s audit logs and reconciliation rules, this supports **robust internal control environments**.