Coinbase To Attract Institutional Traders With New Caspian Partnership

San Francisco based cryptocurrency exchange Coinbase has announced a collaboration with cryptocurrency startup Caspian to make its services more appealing to institutional investors and traders.

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San Francisco based cryptocurrency exchange Coinbase has announced a collaboration with cryptocurrency startup Caspian to make its services more appealing to institutional investors and traders.

Coinbase partners with Caspian

Coinbase has announced a partnership with the full-stack crypto trading and risk management platform Caspian to develop its line of institutional trading services.

Coinbase Prime seeks to integrate with Caspian to add sophisticated trading and portfolio management functionality to Coinbase’s customer base.

To achieve this, Caspian announced in its Medium post that Coinbase will be making use of Caspian’s “full stack” tools.

This partnership seeks to improve the institutional services offered by Coinbase which include Coinbase Prime, Coinbase Custody as well as its Institutional Coverage Group.

About Caspian

Caspian is a joint venture between Tora, a software management company and Kenetic, a blockchain startup focused on spreading the adoption of blockchain technology.

The Caspian project started in March of this year and managed to raise $16 million during its pre-sale, featuring investments from the likes of Global Advisors, Octagon Strategy, Kenetic, Techemy Capital, and Bletchley Park.

In announcing the new partnership with Coinbase, Robert Dykes, CEO of Caspian said:

“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.”

Dykes believes that Caspian will help in the growth and adoption of cryptocurrencies by helping high profile and institutional virtual currency investors enter the market.

Coinbase becomes the 25th crypto trading platform to join Caspian, which prides itself as an “institutional grade full-stack crypto trading and risk management platform”.

Institutional trade services offered by Caspian include trade orders, execution, compliance and risk management.

BitMEX, Gemini, Bitfinex, Poloniex, Huobi, OKEx, BitFlyer, and Binance are some of the cryptocurrency exchanges which could stand to benefit from the institutional grade services offered by Caspian.

This month Caspian announced that it currently has 170 institutional grade customers using its products. Caspian has scheduled an ICO to begin on October 3, after which the platform will go public.

Better institutional services for Coinbase

Kayvon Pirestani, the director of institutional sales at Coinbase has stated that the partnership gives Coinbase a chance at developing its line of institutional services, and present cryptocurrencies as mature, tradable assets.

In speaking about the partnership, Pirestani commented:

“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.”

Coinbase has been striving to bring mainstream usage of cryptocurrencies to institutional traders and investors for months. In June it announced plans to become a federally regulated broker in the United States.

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