Coinbase has joined hands with Caspian in a bid to drive up the number of institutional investors seeking to trade digital assets.
Coinbase, the largest cryptocurrency brokerage in the world, has partnered with Caspian, an institutional grade full-stack cryptocurrency trading and risk management platform for skilled investors and traders, looking to leverage the platform’s full-stack of cryptocurrency trading tools to attract institutional investors.
Caspian to integrate with Coinbase Prime
As per the deal, Caspian will integrate with Coinbase Prime, bringing more sophisticated portfolio management and trading functionality to the customer base of Coinbase, and the possibility of additional features in the future.
The agreement builds on the extensive range of institutional products that Coinbase offers, which include Coinbase Prime, Coinbase Custody, and Institutional Coverage Group.
Making trading and portfolio management frictionless
Speaking on the Collaboration, the CEO of Caspian, Robert Dykes, said that:
We’re delighted to cement this important partnership with Coinbase, which will see one of the world’s leading digital currency trading venues join forces with one of the most exciting emerging crypto platforms. Our goal at Caspian has always been to make it is as frictionless as possible for professional traders and investors to trade and manage portfolios of cryptocurrencies in order to drive exponential growth in this market and we’re delighted that Coinbase shares this vision
Caspian is a joint venture between Kinetic and Tora and is meant to provide institutional grade trade execution, compliance, as well as risk management features that meet the operational and regulatory needs of the investors. Currently, it connects to 25 major cryptocurrency trading exchanges, which include Binance, BitFlyer, OKEx, Huobi, Poloniex, Bitfinex, Gemini, and BitMEX.
Institutional-grade order and risk management tools
Coinbase’s director of institutional sales, Kayvon Pirestani, also showed his excitement about the partnership:
By working together, Coinbase and Caspian will deliver institutional-grade order and risk management tools to the growing number of professional crypto trading firms around the world. Customers will be able to take advantage of the best elements of both platforms — accessing Coinbase’s extensive historical market data and deep pool of liquidity, and combined with Caspian’s suite of seamless trading tools. We see this partnership as not only a tremendous commercial opportunity, but as a chance to truly move forward the institutional adoption of crypto as a mature, tradable asset class.
Being one of the most trusted cryptocurrency brokerages, Coinbase has been trying to attract institutional investors to buy, sell, trade and store cryptocurrencies on its platform. Earlier in the year, the brokerage announced several services including a secure cold storage wallet solution and a sales, training, and support resource – Coinbase Institutional Coverage Group, created for institutional customers.
Good deal for institutional clients?
The partnership between Coinbase and Caspian certainly introduces more advanced tools that will benefit institutional investors. With this new integration, professional traders will be able to utilize the comprehensive trading algorithm developed by Caspian to amke the most out of their trades.