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Coinbase Acquires Crypto Brokerage Platform Tagomi, Highlights Focus on Institutions

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Wed, 05/27/2020 - 13:32
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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
Coinbase Acquires Crypto Brokerage Platform Tagomi, Highlights Focus on Institutions
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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.

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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.)

Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?

News
Fri, 10/23/2020 - 09:24
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Vladislav Sopov
Grayscale, undisputed giant of institutional crypto investments, is celebrating another monstrous milestone, adding a nine-digit sum to AUM in 24 hours
Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?
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Grayscale is an investment company that provides the clients with an exposure to digital currency markets eliminating the need to buy tokens. The firm does it by selling shares of 'trusts' related to certain digital assets. The recently started FOMO has already brought Grayscale's 'asset under management' (AUM) values to previously unseen levels.

Grayscale assets are on steroids

In its most recent report shared in a tweet, Grayscale Investments stated that its net AUM now surpasses $7,300,000,000. Mostly, this upsurge should be attributed to the spikes of Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) prices.

Grayscale adds $300M to its AUM in 24 hours
Image by Twitter

Its founder, CEO of Digital Currency Group Barry Silbert, unveiled that Grayscale’s holdings added a whopping amount of value in the last 24 hours.

Added a cool $300 million in AUM in one day

In terms of separate ‘trusts’, the most impressive increase is associated with Litecoin (LTC). Its value added almost 10% bringing its total to over $34 mln. 

Bitcoin (BTC) allocation surged above $6 bln with a 5% increase. Notorious Grayscale Ethereum Trust (ETHE) added 6% and now is valued at $942 mln.

PayPal assists Grayscale

By contrast, Stellar Lumens (XLM) and Bitcoin Cash (BCH) trusts witnessed mediocre increases of 2-3%. The only integral product of Grayscale, Large Cap Trust that unites the most valuable coins under its umbrella, therefore, added less than 4%.

The numbers of Grayscale Investments positions rocketed due to the rapid spike of crypto prices associated with PayPal’s decision to add major digital assets to its instrument toolkit.

As covered by U.Today previously, PayPal announced that Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) will be added as payment methods by the end of this year.

  

Following this surprising news, Bitcoin (BTC) revisited its multi-months high over $13,000. At press time, its price has slightly retraced and flirts with the $12,800 level.

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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.)