Coinbase, Caspian team up to boost institutional trading in crypto
The cryptocurrency industry is calling out for more institutional investments, in hopes of wider adoption of digital currencies. These past few months have witnessed major financial players such as Citigroup and Morgan Stanley introduce crypto-related products and services. Some say these efforts are to tap into the nascent industry before it is too late. Moreover, most institutional investors are affected by ‘FOMO’, or the fear of missing out. In an effort to help these investors, Coinbase and Caspian are joining forces to help the increasing number of financial institutions looking to trade in cryptocurrencies, according to a Medium post.
Caspian is an institutional grade crypto trading platform that provides crypto asset management solutions and helps customers throughout the life cycle of a trade. Caspian focuses on professional investors and is connected to over 20 different exchanges including Bitfinex, Binance and Coinbase.
Coinbase has also been promoting institutional investments in the cryptocurrency industry. The exchange’s range of projects that are created specifically for institutional investors includes Coinbase Custody, institutional coverage group and Coinbase Prime. All these products assist institutional investors to trade in cryptocurrencies.
Caspian will coordinate with Coinbase Prime to further develop its trading and portfolio management functionality. It also plans for more developments in the future.
“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,” offered Kayvon Pirestani, director of institutional sales at Coinbase.
“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,” said Pirestani.
Caspian has already signed partnerships with Galaxy Digital and Blocktower. The company focuses on providing a single interface to all the major cryptocurrency exchanges. They have designed different management systems to cater specifically to institutional investors.
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