San Francisco-based cryptocurrency giant Coinbase has reportedly partnered with Caspian, the first institutional grade full-stack crypto trading and risk management platform for professional traders and investors, to bring trading tools to the Coinbase Prime platform.
According to the announcement, Caspian will bring trading and portfolio management functionality to Coinbase’s customer base. Caspian is already plugged into 25 crypto exchanges and has started offering working products to institutional clients.
In a statement accompanying the announcement, Caspian CEO Robert Dykes 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.”
This news comes just a week after Caspian, a joint venture between Kenetic, a Hong Kong-based cryptocurrency firm, and Tora, a trading systems firm, announced that it has raised $16 million in funding following a token presale led by Galaxy Investment Partners.
Caspian notes that while its functionality will first be integrated into Coinbase Prime, the two groups are exploring additional integrations across Coinbase’s other professional platforms, including Coinbase Custody and its Institutional Coverage Group.
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.