Coinbase Acquires Crypto Brokerage Platform Tagomi, Highlights Focus on Institutions

News
Wed, 05/27/2020 - 13:32
Vladislav Sopov
Institutional adoption is one of the mottos of top cryptocurrency market figures in 2020. The long-awaited acquisition of Tagomi proves that Coinbase is no exception
Cover image via stock.adobe.com
Contents

The leading US cryptocurrency exchange ecosystem Coinbase has confirmed that it has reached an agreement with the Tagomi brokerage platform on its acquisition. What does this mean for the blockchain segment?

Acquisition confirmed

In an official statement, the Coinbase team has announced that they agreed to acquire Tagomi, an institution-level crypto brokerage platform. Through this expansion, Coinbase plans to advance its presence in the crypto infrastructure of the world’s top hedge fund and macro investors.

Coinbase highlights that this acquisition is one more step on its path to dominance in institutional cryptocurrency services. Previously, it upgraded Coinbase Custody and launched special margin trading options for institutions.

Segregated portfolio features were implemented for further diversification of large trader strategies.

Lastly, the platform hired a dedicated officer, Brett Tejpaul, the Head of Institutional Coverage, to curate this aspect of adoption.

Upgrade for the leadership

Within the business structures of Coinbase, Tagomi will account for the advance of professional trading functions. First and foremost, the new branch will offer prime brokerage services.

With this acquisition, Coinbase will be able to provide services to top clients they have come to expect in forex and equities trading.

This acquisition is subject to further approval from regulatory bodies. So, the Coinbase team expects it to be closed by the end of the year.

As we recently reported, Coinbase CEO Brian Armstrong has also hinted at an upgrade to the user interface of his service.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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