Caspian, a cryptocurrency trading platform created through a joint venture between Tora, a front-to-back technology provider, and Kenetic, a crypto investment firm, raised $16 million in a token pre-s
Caspian, a cryptocurrency trading platform created through a joint venture between Tora, a front-to-back technology provider, and Kenetic, a crypto investment firm, raised $16 million in a token pre-sale. The platform launched this week after months of beta testing.
Crypto trading volumes have climbed past $18 billion per day, with total digital asset value around $325 billion as of April 2018. The market's explosive growth has outpaced the infrastructure available to professional traders. Institutional investors juggling trades across multiple exchanges confront a fragmented toolset. They need systems for managing orders, tracking positions, enforcing compliance requirements, and monitoring risk exposure.
Caspian built a platform that connects traders to 24 exchanges: Binance, Bitmex, Bitfinex, Gemini, Coinbase, Huobi, and OKex. A unified interface lets them move orders across venues without switching applications. The system includes algorithmic trading tools and tracks real-time and historical profit and loss.
Fifteen institutions are currently using Caspian. Another 170 have signaled serious interest. The pre-sale attracted Galaxy Investment Partners, Global Advisors, Octagon Strategy, Kenetic, Techemy Capital, and Bletchley Park, which are testing and funding the platform.
Mike Novogratz, who heads Galaxy Digital Capital Management, inked a strategic partnership with the company. "We believe institutional investors will drive exponential growth in the cryptocurrency market, and Caspian are becoming a big part of this story," Novogratz said. "We're excited to be in partnership with them and expect exciting developments over the next few months."
The company also partnered with Blocktower Capital.
