Coinbase to acquire Crypto Brokerage firm, Tagomi

Coinbase, the biggest US-based crypto exchange has agreed to acquire Tagomi, the leading crypto prime brokerage platform. The financial terms of the transaction were not disclosed.

Founded in 2018, Tagomi offers digital asset trading, custody, margin, lending, shorting, staking, financing in one account. Tagomi's acquisition is expected to complete this year, notes an announcement.

For institutional investors, Coinbase's trading platform already offers advanced features such as margin trading and tools segregate trading strategies.

In a blog post, Coinbase said, "Since launching 18 months ago, Tagomi has become the platform of choice for many advanced traders, hedge funds, and family offices, including well-known names such as Paradigm, Pantera, Bitwise, Multicoin, and many more. The company has also built out an executive team with a rare blend of traditional financial services and crypto experience, led by co-founders Greg Tusar, Jennifer Campbell, and Marc Bhargava."

The Tagomi acquisition will help Coinbase accelerate its product suite for the fast-growing institutional trading market. It will also allow Coinbase to bring custody, professional trading features, and prime brokerage services on one platform. 

Coinbase will able to offer a seamless and powerful trading experience to advanced traders and sophisticated crypto investors they expect in equities and FX markets notes the announcement.

In August 2019, Coinbase acquired Xapo’s Institutional Business that offers a multi-currency digital wallet and card operating in the global market.

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