Cypto Trading Platform Caspian Raises $16M USD Led By Galaxy Digitalbr>
Cypto trading platform Caspian has raised $16 million in a token pre-sale of its CSP token, an ERC-20 compliant token. Pre-sale investors and customers include Galaxy Investment Partners, Global Advisors, Octagon Strategy, Kenetic, Techemy Capital and Bletchley Park.
Caspian is a joint venture by Hong Kong-based blockchain firm Kenetic and OEMS global trading platform Tora. It provides institutional and sophisticated investors with a full-stack crypto trading and risk management platform designed to solve the specific problems facing crypto investors. Caspian aggregates prices, bid/ask information, orders, positions, accounts and execution from multiple crypto exchanges on a single platform.
The CSP token model has been designed to serve several principal objectives. The goal is to link Caspian’s functionality with a token that incentivizes platform use and the development of unique third-party tools and features. Specifically, the token is intended to create a rich, participatory ecosystem where platform users also become community members with an active interest in the platform. The token is not required to access the Caspian platform but can be used to enhance one’s experience of it through an intentional variety of means and to get a variety of benefits.
The company said the Caspian platform is now live and has “170 institutional-grade customers” interested in on-boarding, with 15 customers already using it. The company also said that it is now connected to over 24 different crypto exchanges, including Binance, Bitmex, Bitfinex, Gemini, Coinbase, Huobi and OKex.
Caspian also announced that it recently entered into strategic partnerships with Blocktower and Galaxy Digital Capital Management, led by bitcoin evangelist Mike Novogratz.
“We believe institutional investors will drive exponential growth in the cryptocurrency market, and Caspian are becoming a big part of this story,” said Novogratz. “We’re excited to be in partnership with them and expect exciting developments over the next few months.”