Coinbase Prime to Streamline Institutional Crypto Trading With Link to Enfusion System

This is Coinbase’s first connectivity with an Order Execution Management System.

AccessTimeIconDec 22, 2021 at 4:57 p.m. UTC
Updated May 11, 2023 at 6:02 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto exchange Coinbase (Nasdaq: COIN) said it will link 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, according to a Wednesday announcement. Enfusion’s platform, which is widely used by hedge funds and family offices, allows traders to access multiple assets in one system.

  • How NEAR Enables Multichain Access From One Account
    00:56
    How NEAR Enables Multichain Access From One Account
  • Why the NEAR foundation Chose Eigenlayer as a Security Partner
    00:54
    Why the NEAR foundation Chose Eigenlayer as a Security Partner
  • Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
    07:08
    Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
  • How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
    01:11
    How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
  • 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 also 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 third-quarter earnings.

    Enfusion customers will be able to access Coinbase Prime through its system. If they’re also Coinbase Prime members, they can use it to trade and manage their crypto holdings.

    The integration is expected to roll out in the second quarter of 2022.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Cheyenne Ligon

    Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.