SWC Boosts Bitcoin Security with Coinbase Institutional Custodian Appointment
London-based Bitcoin treasury firm, The Smarter Web Company, has taken a significant step towards fortifying its holdings by enlisting Coinbase Institutional as a key custodian.
Summary
- The Smarter Web Company partners with Coinbase Institutional for Bitcoin custody to enhance treasury resilience.
- CEO Andrew Webley praises Coinbase’s institutional-grade custody as a perfect fit for SWC’s secure and scalable strategy.
- The firm follows a decade-long Bitcoin acquisition plan dubbed “The 10 Year Plan” and recently increased its holdings to 2,470 BTC.
The decision to appoint Coinbase Institutional as a Bitcoin custodian signifies SWC’s commitment to bolstering its treasury infrastructure and solidifying its position as a global leader in corporate Bitcoin strategy.
Coinbase Institutional will work alongside existing custodians to secure SWC’s expanding Bitcoin treasury through Coinbase Prime, a platform renowned for its institutional-grade custody and efficient execution. This move aligns with SWC’s emphasis on transparency, risk management, and shareholder value.
CEO Andrew Webley lauded Coinbase’s reputation as a respected and regulated entity in the digital asset realm, emphasizing the compatibility of their custody solutions with SWC’s strategic objectives.
In line with its “The 10 Year Plan,” SWC currently holds 2,470 BTC valued at approximately $2836 million, leveraging Bitcoin as a foundational asset for its treasury. The company’s consistent Bitcoin accumulation, including a recent purchase of 30 BTC on September 10, underscores its long-term investment strategy.
By securing the partnership with Coinbase Institutional, SWC aims to enhance its standing in the UK market as a prominent public Bitcoin treasury firm while potentially climbing the global ranks from its current 26th position.
Despite recent price stagnation, with Bitcoin trading at $115,971, market sentiment remains optimistic for a potential rally above $117k and a resurgence towards the $120k mark.