Cryptocurrency Exchange Coinbase Teams With Caspian On Institutional Crypto Tradingbr>
Caspian is a joint venture between Hong Kong-based blockchain firm Kenetic and OEMS global trading platform Tora. It provides institutional grade trade order, execution, compliance and risk management features to meet investors’ regulatory and operational needs. Caspian aggregates prices, bid/ask information, orders, positions, accounts and execution from 25 major crypto exchanges on a single platform.
Under the the partnership, Coinbase’s trading platform for financial institutions – Coinbase Prime – will integrate Caspian’s full-stack of crypto trading tools to bring additional sophisticated trading and portfolio management functionality to its customer base. The partnership is part of Caspian’s strategy to connect institutional investors and active traders with multiple trading platforms from a single interface.
“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,” said Robert Dykes, CEO of Caspian.
Coinbase Prime is a suite of tools launched by the exchange earlier this year for institutional customers. These tools include margin financing, over the counter (OTC) block trading, and execution algorithms. The service allows hedge funds to borrow from Coinbase after putting down collateral, then they can trade on a number of crypto exchanges without putting down a balance or having to deal with private keys.
Kayvon Pirestani, Director of Institutional Sales at Coinbase, said that they see the Caspian 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.
“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,” Pirestani said. “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.”