Caspian Brings New Crypto Trading Tools to Coinbase Institutional Traders

Caspian Brings New Crypto Trading Tools to Coinbase Institutional Traders

By Diana Ngo - min read
Updated 25 August 2020

Caspian, a startup that has built an institutional grade full stack cryptocurrency trading platform, has partnered with Coinbase to integrate with the company’s professional trading platform, Coinbase Prime. The partnership will see Caspian bring additional trading and portfolio management functionality to Coinbase’s customer base, with the possibility for further integrations in the future.

Kayvon Pirestani, director of institutional sales at Coinbase, said the collaboration was not only “a tremendous commercial opportunity” but also “a chance to truly move forward the institutional adoption of crypto as a mature, tradable asset class.”

Coinbase offers a compliant cryptocurrency platform that allows users to buy, sell, trade, store, access and utilize cryptocurrency in more than 33 countries. The company serves more than 20 million customers, professional investors and institutions.

Earlier this year, Coinbase announced a number of services designed specifically for the needs of the institutional space. 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.

“By working together, Coinbase and Caspian will deliver institutional-grade order and risk management tools to the growing number of professional crypto trading firms around the world,” Pirestani said.

“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.”

Caspian, a joint venture between Tora, a global cloud-based front-to-back technology provider to buy side institutions, and Kenetic, a blockchain and cryptocurrency investment firm, is building an ecosystem to enable professional traders and investors to operate more efficiently and improve their performance.

Caspian has a live and fully deployed platform with 15 customers already onboard and 170 customers waiting to be on-boarded.

The platform aims to offer a single interface into all major cryptocurrency exchanges, a complete suite of sophisticated trading algorithms, real-time and historical P&L and exposure tracking and professional customer service. The system is designed to meet the needs of institutional investors who need to execute trades and maintain target allocations across many exchanges.

“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,” said Robert Dykes, CEO of Caspian.

“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.”

Caspian is looking to raise US$19.5 million in an initial coin offering (ICO). The startup already managed to raise US$16 million in a pre-sale with participation from Kenetic, Galaxy Investment Partners, Octagon Strategy, Techemy Capital, Global Advisors and Bletchley Park.