Coinbase Prime Expands Custody Services to Include AKT, Boosting Institutional Adoption

Coinbase Prime, the world's largest digital asset custodian, has partnered with Akash Network to provide custody services for $AKT. This partnership is crucial for institutions needing to hold AKT, as it enables Coinbase Prime's custody services for $AKT. Coinbase Prime is known for its strong security and custody services, and safeguards 90% of Bitcoin in ETFs, underscoring its market dominance and global institutional trust.

Coinbase Prime Expands Custody Services to Include AKT

New York, March 21, 2024 - Coinbase Prime, the world's largest digital asset custodian, has announced the addition of AKT to its custody services. This partnership is a significant development for institutions seeking to hold AKT, as it provides them with access to Coinbase Prime's robust security and custody platform.

Coinbase Prime is known for its industry-leading security and custody services. The platform currently safeguards 90% of Bitcoin held in ETFs, demonstrating its dominance in the digital asset market and the trust placed in it by global institutions. BlackRock, the world's largest asset manager, is a notable client of Coinbase Prime, further highlighting the platform's credibility and institutional trust.

The Akash-Coinbase Prime partnership aligns with the growing institutional interest in cryptocurrencies and blockchain technology. Institutional investors are increasingly seeking secure and reliable platforms to hold and manage their digital asset investments. Custody is a critical requirement for institutions to hold AKT, and the addition of Coinbase Prime's services provides a secure and trusted solution for this need.

By adding AKT to its offerings, Coinbase Prime enhances its comprehensive suite of services and expands the accessibility and security of AKT for institutions. This is a key development for Akash Network, as it aims to expand its reach and improve its decentralized cloud solutions. The secure storage of AKT with Coinbase Prime provides institutions using Akash's cloud services with peace of mind regarding the custody of their assets. This is likely to boost the adoption of AKT and the utilization of Akash Network's decentralized cloud resources.

Akash Network's Grok Deployment on NVIDIA H100s

In related news, the Akash community has achieved a significant milestone by successfully deploying Grok on an 8x cluster of NVIDIA H100s. This makes Akash the first decentralized cloud to run Grok, demonstrating its support for high-performance computing (HPC) workloads.

Grok is a deep learning framework that is used for training large-scale machine learning models. The successful integration of Grok with NVIDIA H100s through Akash highlights the network's potential to cater to advanced computational demands. This sets a new standard for decentralized cloud capabilities and positions Akash as a leader in the emerging decentralized cloud computing market.

The addition of Coinbase Prime's custody services for AKT and the successful Grok deployment on NVIDIA H100s through Akash underscore the growing maturity and capabilities of the Akash Network. These developments are expected to accelerate the adoption of decentralized cloud solutions and further enhance the value proposition of Akash Network for institutions and developers alike.