Coinbase has raised $57 million for launching cryptocurrency lending services aimed at institutional clients.

According to a BlockBeats report on September 6th citing CoinDesk, Coinbase has submitted documents to the US Securities and Exchange Commission (SEC) showing that as of September 1st, it has raised $57 million to launch new cryptocurrency lending services for institutional clients in the United States. Sources revealed that Coinbase's collateral loans offered to institutional trading clients are similar to the bulk brokerage services provided by banks in traditional finance.