Coinbase, the popular bitcoin exchange company has announced it will partner with Caspian, the full-stack crypto trading and risk management platform. 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.”
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.
Earlier this year, Coinbase 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.”
Caspian is currently holding a token sale for CSP coins, and has over $16 million, close to its hard cap of $19.5 million.