Coinbase and Caspian partner to drive institutional participation in crypto

Coinbase, has partnered with Caspian in a move aimed to assist the growing number of financial institutions seeking to trade crypto.

As part of the deal, Caspian will integrate with Coinbase Prime to bring sophisticated trading and portfolio management functionality to Coinbase’s customer base. "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," says Caspian CEO Robert Dykes.

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. A full-stack crypto asset management platform, it currently connects to 25 major crypto-trading platforms, including Coinbase, BitMEX, Gemini, Bitfinex, Poloniex, Huobi, OKEx, BitFlyer and Binance.

The announcement follows Coinbase’s recent unveiling of services designed specifically for the needs of institutional investors. 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. Based in San Francisco, Coinbase claims over 20 million customers in 32 countries.

"Coinbase and Caspian will deliver institutional-grade order and risk management tools to professional traders," says Coinbase Institutional Sales Director Kayvon Pirestani. He says clients will be able to access Coinbase’s historical market data and deep liquidity, which combined with Caspian’s suite of trading tools should propel institutional adoption of crypto as a mature, tradable asset class.

For Caspian, the partnership with Coinbase follows collaborations with Galaxy Digital and Blocktower, and forms 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 trading algorithms and trade via its purpose-built Smart Order Router (SOR) to achieve best execution.