Caspian, a firm that focuses on providing cryptocurrency asset management solutions, took to Twitter to announce its partnership with Galaxy Digital, a crypto-asset merchant bank. According to the claims made, the duo will be working together to further stimulate “the institutionalization of cryptocurrency markets”.
CEO of Galaxy Digital, Mike Novogratz has been passionate about the crypto sphere and blockchain technology since its very existence. Despite the negativity surrounding the relatively new class of assets, Novogratz continues to speak highly of the asset and technology at hand and believes that it will redefine retail altogether.
Novogratz appears to be hopeful and thrilled of his involvement with Caspian. Furthermore, he strongly believes that “institutional investors will drive exponential growth in the cryptocurrency market”, something that he has been vocal about for a long time.
As for the partnership, he said:
“We are excited to partner with a firm like Caspian and look forward to working with them to further evolve and enhance the platform.”
What appears to be a shared value among Caspian and Galaxy Digital is the notion of “institutionalization”. Caspian is working towards establishing crypto assets as a norm through its products like OEMS, PMS, and RMS.
OEMS, also referred to as ‘Order Execution Management System’, is one that claims to provide consumers the necessary access to crypto exchanges and assets. Next, the PMS, or ‘Portfolio Mean Square’, was designed to enhance portfolio analysis, while ensuring that users can house all data under one platform. Lastly, the Root Mean Square (RMS), was established to validate accuracy of transactions.
In response to Novogratz comments, CEO and Co-Founder of Caspian, Robert Dykes expressed instrumental honor to being able to work alongside Novogratz and his specialized team, adding that:
“Galaxy’s decision to become a user on the platform is yet another step for Caspian in becoming the go-to trading platform for sophisticated investors. Mike and his trading and technology team’s guidance and partnership in the project will be invaluable.”
What does Caspian have in store upon establishing the partnership with Galaxy Digital? As per AMBCrypto, the crypto asset management solution provider will be working towards attracting over 50 firms within a span of three months.