Cryptocurrency exchange Coinbase has teamed up with startup Caspian for the joint development of solutions for professional traders and financial companies.
Under the deal, Coinbase Pro will use the entire Toolbox of Protocol Caspian to implement on the platform additional opportunities for trading and portfolio management. About startup said in an official blog post on Medium.
“Customers will be able to use the best elements of both platforms will have access to market data for past periods Coinbase, as well as its high liquidity, and a set of tools for trading Caspian,” said Director of institutional sales exchange Kavon Pirestani (Kayvon Pirestani).
According to him, this integration — the ability to attract institutional money into the cryptocurrency market, providing digital currencies exist in a Mature asset class.
Caspian has positioned itself as a platform for cryptocurrency trading and risk management “institutional level”. The startup was launched a few days ago as a joint venture with Kenetic and Tora and successfully conducted presales tokens, which raised $16 million. Now the company enters into agreements directly with 25 stock exchanges, among them Gemini, Huobi and Binance. According to representatives of startups, cooperation with Coinbase is part of the strategy in connecting institutional investors with active trading on multiple platforms with a single interface.
Coinbase, in its turn, in June announced plans to become officially regulated broker-dealer to withdraw the cryptocurrency market into the mainstream financial market. The company plans to start exchange-traded Fund (ETF) focused on bitcoin together with an investment company BlackRock with wall street.