San Francisco-based Coinbase is now accepting deposits to their Coinbase Custody product for institutional investors, the company announced today in a blog post.

The blog post revealed that Coinbase Custody is now live for all customers after receiving its first deposit last week. Coinbase Custody is a product aimed at institutional hedge funds and deep pocket investors, and requires a minimum $10 million deposit just to use the service.

Coinbase Custody Product Lead Sam McIngvale said in a blog post:

“Coinbase Custody’s mission is to make digital currency investment accessible to every eligible financial institution and hedge fund in the world. We’ll achieve this by striving to become the most trusted and easiest-to-use crypto custody service available. Coinbase Custody is a combination of Coinbase’s battle-tested cold storage for crypto assets, an institutional-grade broker-dealer and its reporting services, and a comprehensive client coverage program.”

Coinbase Custody’s features include on-chain segregation of crypto assets, multiple layers of security, cold storage auditing and reporting tools, and “split, offline private keys that require a quorum of geographically distributed agents to use cryptographic hardware to sign transactions.”

Coinbase says it will support additional assets beyond what’s currently offered. For now, Coinbase Custody only supports the assets available through the Coinbase exchange: BTC, ETH, LTC, and BCH.

In the long term, the company is looking into how to offer their Coinbase Custody customers crypto-specific features such as staking and distributed governance.

A proper custody solution has long been said to be the biggest hurdle in the crypto market preventing institutional money from entering. Coinbase is now providing that solution. Coinbase says they will onboard a “set of world-class clients that includes leading crypto hedge funds, exchanges and ICO teams” in the coming weeks.