The two platforms have formed an alliance to cater the rising demand in crypto-trading.
Recently there has been a huge surge in the number of people investing in crypto assets, more specifically, institutional investors. Due to this increase in demand, Coinbase and Caspian have spotted the potential customers in need of both services and have formed a partnership, the platforms announced yesterday. The goal is to become the biggest platform for investors to easily trade and monitor cryptocurrencies through connecting a range of exchanges in one interface.
Caspian, a crypto trading platform for institutional-grade investors, connects 25 exchanges, including Coinbase, onto a single interface. The company is the result of a collaboration between Tora and Kenetic, therefore, will bring significant experience within asset management.
Having previously partnered with Galaxy Digital and Blocktower, Caspian is well underway in achieving its objective to connect active traders with multiple trading platforms.
Coinbase, a crypto-exchange, provides access for consumers to manage their crypto assets. Offering several products which were launched earlier this year, it prioritises the accessibility of crypto-trading. These products include Coinbase Prime, an institutional brokerage and trading platform, Coinbase Custody, a regulated, secure cold storage solution and the Coinbase institutional coverage group, a training and support resource for institutional customers.
The partnership will involve Caspian integrating Coinbase Prime, one of the recently released products, to improve the functionality of portfolio management for Coinbase’s customers with the opportunity for further integrations in the future. The partnership is an attempt to be the largest crypto-platform, connecting as many exchanges as possible.
Robert Dykes, CEO of Caspian said: “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”.
Join AltFi for its third annual Alternative Income Forum, exploring closed-ended funds (investment trusts) specialising in generating an income using alternative assets such as specialist finance, P2P lending, direct lending, asset leasing and more. Hear from the leading investors and fund managers in this rapidly growing market.