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Coinbase partners with crypto JV Caspian to boost institutional investor offering

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The largest US digital currency exchange, Coinbase, has partnered with crypto-trading platform Caspian “to assist the growing number of financial institutions seeking to trade cryptocurrencies”.

Coinbase has in recent months made moves to attract large investors to its crypto-trading platforms. In May, the company launched a suite of products geared towards institutional investors, which included a custodial product called Coinbase Custody. The suite also included Coinbase Prime, a new platform providing a set of tools and services used by institutional investors for cryptocurrency trading.

The partnership with Caspian, which was announced yesterday, marks Coinbase’s latest step in that direction. Under the terms of the agreement, Caspian will integrate with Coinbase Prime to bring additional trading and portfolio management functionality to Coinbase’s customer base. The two companies hinted that there was a possibility for further integrations to happen in the future.

The deal is also important for Caspian, which was established just over a week ago, as a joint venture between Hong Kong-based crypto firm Kenetic and trading system firm Tora. Caspian scribes itself as a provider of “institutional grade trade order, execution, compliance and risk management features to meet investors’ regulatory and operational needs”. It currently connects to 25 crypto exchanges, including Coinbase, BitMEX, Gemini, Bitfinex, Poloniex, Huobi, OKEx, BitFlyer and Binance

“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,” Caspian’s chief executive officer Robert Dykes commented on the development.

Meanwhile, Coinbase’s director of institutional sales Kayvon Pirestani said that the collaboration “will deliver institutional-grade order and risk management tools to the growing number of professional crypto trading firms around the world”.

“Customers will be able to take advantage of the best elements of both platforms — accessing Coinbase’s extensive historical market data and deep pool of liquidity, and combined with Caspian’s suite of seamless trading tools,” Pirestani added.

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