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Leading crypto exchange Coinbase has entered into a partnership with Caspian, an institutional grade crypto trading and risk management platform.
Founded in 2018, 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 leading crypto exchanges, including Coinbase, BitMEX, Gemini, Bitfinex, Poloniex, Huobi, OKEx, BitFlyer, and Binance.
The partnership is aimed at assisting the growing interest among financial institutions to start trading cryptocurrencies.
Coinbase has announced a number of services this year designed specifically to meet this growing institutional interest. 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.
As part of the partnership, 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.
“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,” Kayvon Pirestani, Director of Institutional Sales at Coinbase, said in a statement.
Caspian said that the partnership with Coinbase is a 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.
“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,” said Robert Dykes, CEO of Caspian.
