Coinbase (Nasdaq:COIN) said it will tie-up to investment-management software provider Enfusion’s Order Execution Management System to offer institutional customers on Coinbase Prime a way to streamline their crypto trades.
The connection means Enfusion customers with a Coinbase Prime account will be able to trade crypto assets directly as part of their entire portfolio.
Enfusion’s platform is widely used by hedge funds and family offices, and it allows traders to access multiple assets in 1 system.
The partnership with Enfusion signals Coinbase is betting on the continued growth of institutional interest in crypto trading, and is making moves to court the big players.
As the crypto market expands, institutional trading makes up an increasingly large percentage of Coinbase’s overall trading volume.
Institutional traders offer a more reliable source of revenue than retail traders, who become less active in periods of low volatility, as revealed by Coinbase’s disappointing Q-3 earnings.
Enfusion customers will be able to access Coinbase Prime through its system. If they are also Coinbase Prime members, they can use it to trade and manage their crypto holdings.
The integration is expected to roll out in Q-2 of Y 2022.
Have a happy, prosperous Holiday week, Keep the Faith!