Crypto exchange Coinbase is finally acquiring Tagomi, a prime brokerage platform specializing in digital asset trading for institutional clients.
London-based Bequant becomes one of only a few companies in crypto to offer a full range of prime brokerage services for hedge funds.
In a newly crowded market, Bequant is still adding features to the suite of services it's been building for the past two years.
Bitcoin suffered its biggest drop in seven years, as fears over the spreading coronavirus triggered a new wave of selling in everything from stocks and junk bonds to cryptocurrencies.
As traditional markets undergo a level of anxiety not seen since the 2008 recession, the cryptocurrency industry showed few existential signs of distress.