Coinbase and Caspian Partner to Drive Institutional Participation in Crypto
New collaboration enables professional investors to leverage Caspian’s full-stack of crypto trading tools across the leading digital currency trading platform, CoinbaseCoinbase, the easiest and most trusted platform to access, buy, sell, trade and store digital currency, has partnered with Caspian, the first institutional grade full-stack crypto trading and risk management platform for professional traders and investors, to assist the growing number of financial institutions seeking to trade cryptocurrencies.
As part of the deal, Caspian will integrate with Coinbase Prime to bring additional sophisticated trading and portfolio management functionality to Coinbase’s customer base, with the possibility for further integrations in the future. The partnership builds on Coinbase’s extensive range of institutional product offerings, which include Coinbase Prime and Coinbase Custody, and its Institutional Coverage Group.
“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,” said Robert Dykes, CEO of Caspian.
Caspian is a joint venture between Tora and Kenetic that provides institutional grade trade order, execution, compliance and risk management features to meet investors’ regulatory and operational needs. It currently connects to 25 major crypto-trading platforms, including Coinbase, BitMEX, Gemini, Bitfinex, Poloniex, Huobi, OKEx, BitFlyer and Binance.
Coinbase is the most trusted and easiest to use suite of tools and services for consumers, professional investors and institutions to buy, sell, trade, store, access and utilize cryptocurrency in more than 33 countries. Earlier this year, it announced a number of services designed specifically for the needs of the institutional space.
These include Coinbase Prime, an institutional brokerage and trading platform, Coinbase Custody, a regulated, secure cold storage solution,and the Coinbase Institutional coverage group, a sales, training and support resource for institutional customers.
“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,” offered Kayvon Pirestani, Director of Institutional Sales at Coinbase.
For Caspian, the partnership with Coinbase follows a string of high profile collaborations with Galaxy Digital and Blocktower, and forms part of its strategy to connect institutional investors and active traders with multiple trading platforms from a single interface. Traders will be able to utilise Caspian’s suite of comprehensive trading algorithms and trade via its purpose-built Smart Order Router (SOR) to achieve best execution.