Coinbase Announces Caspian Crypto Trading Risk Platform Integration with Coinbase Prime
Caspian Platform Integrates with Coinbase Prime
Caspian and Coinbase had decided to sign a partnership in order to bring new functionalities related to portfolio management and trading to the Coinbase platform. Caspian is a full-stack cryptocurrency trading platform while Coinbase is one of the most important crypto exchanges in the market. If the partnership produces good results, in the future, both companies could keep working together and implement even more functionalities.
The partnership has been built on top of Coinbase’s institutional products. These include Coinbase Custody, Coinbase Prime and the Institutional Coverage Group. In this way, both companies will be working in order to create a more frictionless experience for professional traders and investors.
Robert Dykes, CEO of Caspian, commented on the matter:
“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 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.”
It is important to mention that Caspian is a joint venture between two companies known as Tora and Kenetic. Caspian offers institutional grade trade order, execution and compliance among other services. At the moment, the company is working with many different cryptocurrency exchanges such as Poloniex, Bitfinex, huobi, OKEx, and Binance, among others.
Coinbase is also working in order to offer institutional-grade services. There is an increased demand from institutions to enter the market and have exposure to virtual currencies. This is why, Coinbase, has designed different products for institutions. Some of these products are Coinbase Prime and Coinbase Custody.
The first one is an institutional brokerage that is integrated with a trading platform, and the second one is a cold storage solution for institutions and wealthy investors. Moreover, Coinbase Institutional coverage group is a support and training resource for institutional consumers.
Kayvon Pirestani, Director of Institutional Sales at Coinbase, said that with this partnership, both Coinbase and Caspian will be delivering institutional-grade order and risk management tools to an increased number of professional crypto trading firms all over the world.
With these tools, users will have the possibility to take advantage of these tools and access Coinbase’s extensive historical market data and pool of liquidity. In this way, both companies improve the infrastructure provided for institutional traders.
At the moment, Caspian is holding a token sale for its CSP coins. Moreover, the company has over $16 million dollars, which is close to its hard cap of $19.5 million dollars.