One of the United States largest cryptocurrency exchanges, Coinbase has released that it will enter a partnership with the full-stack crypto trading and risk management platform, Caspian. Caspian touts that it “provides a single interface into all major crypto exchanges, a complete suite of sophisticated trading algorithms, real-time and historical P&L and exposure tracking and professional customer service” and will find itself integrated with Coinbase’s institutional trading platform. Coinbase Prime. The aim is to give better portfolio management to Coinbase’s clientele, with more features on the horizon.
Caspian is currently connected to 25 major cryptocurrency exchange platforms, which counts major exchanges Coinbase, Gemini, OKEx, and Binance, as members. The company services institutional trades, execution, and risk management. This collaboration will add to the various institutional product provided by Coinbase’s Coinbase Prime, Coinbase Custody, as well as its Institutional Coverage Group.
Coinbase announced that they will begin catering to institutional firms and investors. They’ve launched Coinbase Prime, an institutional brokerage and trading platform, Coinbase Custody, a cold storage solution, and the Coinbase Institutional coverage group, a service for for institutional customers to provide assistance with sales and training.
Robert Dykes, the CEO of Caspian commented on the partnership and its goal to provide an excellent experience for professional traders and investors:
“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.”
Kayvon Pirestani, Director of Institutional Sales at Coinbase added to the discussion of 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.”