Coinbase, digital currency exchange headquartered in San Francisco, has partnered with Hong Kong-based startup Caspian to assist the growing number of financial institutions seeking to trade cryptocurrencies.
Caspian is the first institutional grade full-stack crypto trading and risk management platform for professional traders and investors. Powered by TORA and Kenetic,Caspian 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. Currently, it connects to such platforms Coinbase, BitMEX, Gemini, Bitfinex, Poloniex, Huobi, OKEx, BitFlyer and Binance.
Under 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.
Robert Dykes, CEO of Caspian, said:
“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.”
According to Caspian, the partnership with Coinbase is 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 the best execution.
Kayvon Pirestani, Director of Institutional Sales at Coinbase, commented on the initiative:
“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.”
Coinbase is the most trusted online platform that allows merchants, consumers, and traders to transact with digital currency. Launched in 2012, Coinbase offers a compliant cryptocurrency platform that allows users to buy, sell, trade, store, access and utilize cryptocurrency in more than 33 countries. The company serves more than 20 million customers, professional investors and institutions.
Recently, Coinbase opened a new office in New York to accommodate and appeal to institutional investors. As a part of its growth strategy, the leading digital currency exchange is also expanding its team. The exchange has recently welcomed former LinkedIn executive Michael Li as the VP of data and Brian Brooks, a former executive vice president, general counsel and corporate secretary at Fannie Mae, in the position of the Coinbase top attorney.
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