Coinbase Prime has announced that it will be joining forces with Enfusion to bring crypto trading closer to institutional investors. The integration of Enfusion on Coinbase Prime is scheduled to be completed in the second quarter of 2022.
The collaboration between Coinbase Prime and Enfusion will allow institutional investors to access easily the wide of digital assets in the market.
Boosts crypto exposure for institutions
The objective is to make it easy and convenient for institutional players to get crypto exposure. The company seeks to provide crypto services that are unique to institutional players and their clientele base. The development of these unique crypto services is enabled by innovative technologies.
Coinbase Prime has already attracted a wide range of institutional investors. The CEO of One River, an asset management firm, noted, “Enfusion’s connectivity with Prime will allow us to seamlessly manage our crypto positions alongside other assets from a single interface, streamlining our trading operations. We’re very excited to see two platforms. We rely on the everyday team up to continue improving how institutions access the crypto markets.”
In September this year, Prime unveiled various innovative features to enable clients to manage their portfolios. The company also announced the acquisition of Routefire earlier in the year to boost its Prime Brokerage division.
Coinbase Prime tapping into institutional interest for crypto
Brett Tejpaul, the head of Institutional Sales, Trading and Prime, talked about the growing institutional adoption for digital assets over the past year.
In a recent post about this, Tejpaul noted that “by providing straight-through processing to Coinbase Prime via APIs, Enfusion is providing its clients institutional access to digital asset custody and algorithmic trading, with the potential to further our relationship in the future.”
Tejpaul also added that the company was eager to merge with the first OEMS Enfusion, now serving as Coinbase Prime’s multi-asset management system. He also noted that financial institutions will continue to boost their exposure to crypto assets in the coming months, and Coinbase Prime was on standby with all the needed tools.
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