Coinbase, one of the most trusted cryptocurrency marketplaces, has announced a partnership with Caspian, an institutional-focused cryptocurrency asset management platform. According to representatives of the companies, this cooperation will help a large number of financial institutions enter the digital asset market.
As part of the deal, Caspian will integrate with Coinbase Prime, allowing Coinbase users to enjoy a broader range of financial instruments. Institutional investor products such as Coinbase Prime, Coinbase Custody and the Coinbase Institutional Coverage Group support service will also undergo changes.
“Caspian is committed to providing professional traders and investors with the opportunity to profitably and seamlessly trade and manage cryptocurrency portfolios, which in turn will lead to exponential growth of the market. We are pleased that Coinbase shares our vision,” said Caspian CEO Robert Dykes
Caspian is a joint venture between Tora and Kenetic that provides an institutional trading framework and risk management program. Caspian currently partners with 25 major cryptocurrency platforms, such as Coinbase, BitMEX, Gemini, Bitfinex, Poloniex, Huobi, OKEx, BitFlyer and Binance.
Kayvon Pirestani, Director of Institutional Sales at Coinbase, said:
Through the collaboration between Coinbase and Caspian, professional trading firms will have access to institutional-grade instruments. Users will be able to access the best features of both platforms. We see this partnership not only as an excellent commercial opportunity, but as a step that will truly bring institutional adoption of cryptocurrencies closer.
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