Coinbase, the United States based cryptocurrency exchange, has acquired Tagomi, a cryptocurrency brokerage platform also based in the US, according to Crowdfund Insider. The goal, of course, is to bring institutional investors into the market.
In a blog post on the matter, Coinbase noted:
“We’ve seen a swell in demand from institutional investors over the past year, driving tremendous growth in our Coinbase Custody offering and increased volumes on our trading platforms. This has led us to build advanced features such as margin trading for institutional investors and new tools to help investors segregate their trading strategies. Most recently, we expanded Coverage for larger clients by adding Brett Tejpaul as Head of Institutional Coverage to our leadership team.”
Now, Tagomi will ensure that institutional investors can enjoy additional, more advanced trading features on Coinbase, among other things.
Tagomi has been around for 18 months, and many advanced traders use it for all sorts of needs. The blog post continues on the matter, concluding:
“We’re proud to build the foundation for the next wave of crypto investors by bringing onboard the first electronic prime brokerage in crypto. Even in a time of uncertainty, we view now more than ever as the time to push forward our mission of building the crypto-economy. We recognize that the journey is only just beginning, but we’re excited to be builders, and we welcome Tagomi to our mission.”