In a recent Medium blog post, Coinbase announced its acquisition of the leading institutional cryptocurrency brokerage, Tagomi.
The acquisition of Tagomi will attract refined traders and cosmopolitan cryptocurrency investors to Coinbase. Moreover, this will reinforce the services that Coinbase currently offers in its platform. It provides its clients with the leading custody and trading platforms in the crypto industry.
As some of the world’s advanced investors enter the cryptocurrency space now, Coinbase is at an inflection point in the industry. The reason for this is that these advanced investors seek the right platform catering to their needs of crypto operations which the platform has to deliver. It is thus in this backdrop that Coinbase’s acquisition of Tagomi’s brokerage platform assumes significance.
More expansion for Coinbase
The acquisition of Tagomi by Coinbase also results in greater expansion for the cryptocurrency trading platform. This acquisition will open Coinbase to the beginning of a strong institutional focus.
This acquisition is critical for Coinbase because it comes at a period as many renowned professionals and funds in the world are increasingly interested in the cryptocurrency space. Over the past year, there has been an increase in demand from institutional investors. This has led to the massive growth in the Coinbase Custody offering. Coinbase has also experienced increased volumes on its trading platforms.
In line with this, Coinbase has decided to level up with their operations in the cryptocurrency space. The platform has further developed improved features that will make them stand out. These improved features include the offering of margin trading for these institutional investors. New tools have also been added to aid investors with the segregation of their trading strategies.
The blog also mentioned that Coinbase had recently expanded coverage for greater clients with the addition of Brett Tejpaul as the head of institutional coverage to the leadership team.
With the acquisition of Tagomi, Coinbase aims to strengthen its product suit, even as the institutional trading market is fast growing. Coinbase will thus be able to offer professional trading features, custody, and prime brokerage services on just one platform. With this, cosmopolitan investors will also enjoy a perfect and powerful trading experience as expected in FX markets and equities.
Recently, Coinbase had announced its support for OmiseGo (OMG) on its Pro platform. There fore, there’s now the option of buying, selling, sending, receiving, storing, and converting OMG for users with Pro account. Except for its New York users, the exchange disclosed all other customers would be able to trade with OMG.