Caspian Brings New Crypto Trading Tools to Coinbase Institutional Traders

The executive spelled out the benefits in more detail: "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. 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 is a joint venture between Tora, which provides cloud-based trading infrastructure to asset managers, and Kenetic, a cryptocurrency investment firm. The platform consolidates multiple crypto exchanges into one interface, offers algorithmic trading tools, tracks profit and loss and exposure in real time, and includes professional customer support. It targets professional traders who manage positions across numerous venues.

Fifteen clients trade on Caspian's system. 170 more await onboarding. Robert Dykes, who leads Caspian, framed the Coinbase agreement as validation of the startup's approach: "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. Our goal at Caspian has always been to make it 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."

The startup plans to raise $19.5 million by issuing a token. An earlier fundraising round brought in $16 million from backers including Kenetic, Galaxy Investment Partners, Octagon Strategy, Techemy Capital, Global Advisors, and Bletchley Park.

Coinbase operates across 33 countries and has more than 20 million users. The platform launched a suite of institutional offerings this year, featuring Prime for trading and brokerage services, a custody product for secure storage, and a team dedicated to servicing large-scale clients.