Today, we’re announcing our new integration with Coinbase Prime, enabling our clients to receive highly reliable and in-depth financial insights across all of their managed digital assets on Coinbase Prime.
TRES is now integrated with over 200 networks, including blockchains, exchanges, and custodians. Among these, Coinbase Prime is one of the most frequently used by our clients, showcasing the effectiveness of our bespoke integration and the valuable insights derived from our granular data and verification processes.
Coinbase Prime: Trading Accounts and Vaults
Coinbase Prime offers two distinct types of accounts: Trading Accounts and Vaults.
Trading Accounts: These accounts are not segregated at the blockchain level, meaning clients’ funds are commingled. For Trading Accounts, TRES fetches off-chain trades and activities. Clients have the flexibility to choose whether trades should be collected per order or per fill, allowing for a tailored approach to data management.
Vaults: These accounts are client-segregated wallets at the blockchain level. TRES pulls wallet addresses and fetches data directly from the blockchain, verifying the data provided and enabling the retrieval of historical balances and staking data.
This method of data extraction offers several significant advantages, particularly in terms of data integrity and staking insights.
Data Integrity
- Historical Data: Clients have the ability to retrieve historical balances (both for trading accounts and vaults), supporting thorough analysis and reporting.
- Financial Audits: The data can be financially audited, ensuring transparency and compliance with on-chain based data.
- Accuracy: TRES ensures accurate data with no silos or missing transactions, providing a complete and reliable picture of assets.
- Blockchain Exposure: Clients gain insight into their exposure by network, which is crucial for risk management and strategic planning and not just by asset. For example, if you are holding USDC on multiple networks, you will be able to understand per-network exposure.
- Real-Time Notifications: TRES offers near-real-time notifications on new transactions, empowering clients with timely information.
Staking insights
- Historical Staking Data: Clients have the ability to retrieve data on stalking historical performance.
- Custom Reward Recognition: TRES verifies staking data and allows clients to choose whether to recognize accrued rewards or only claimed rewards, offering flexibility in financial reporting.
- Comprehensive Querying: Staking data is readily available for querying, ensuring comprehensive support for all staking activities.
Internal Transfers and Cost Basis Management
One of the standout features of TRES is its ability to identify and classify transactions from both Trading Accounts and Vaults. Internal transfers are accurately classified, helping to avoid the recognition of unnecessary cost basis gains or losses.
Conclusion
This robust integration greatly enhances the reliability and depth of financial insights that clients receive, positioning TRES as an essential tool for managing digital assets on Coinbase Prime. With TRES comprehensive services and seamless integration, clients can confidently navigate the complexities of the digital asset landscape.
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About Coinbase Prime
Coinbase Prime is a leading platform tailored for institutional investors, offering a full suite of trading, custody, and financing services within the cryptocurrency space. Designed to meet the needs of asset managers, hedge funds, and other large-scale financial institutions, Coinbase Prime provides access to deep liquidity, sophisticated trading tools, and secure, regulated custody solutions. With its comprehensive services and TRES powerful integration, clients can confidently navigate the complex world of digital assets.
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