Nasdaq-listed bitcoin exchange Coinbase introduced a beta version of its Coinbase Prime brokerage platform for institutional investors with expanded functionality. This is stated in the blog of the company.
The new tools include access to market data from more than 10 venues, expanded analytics and support, automated order execution at the best price, and stacking.
"Coinbase has reimagined Prime based on feedback from hundreds of customers to bring the first integrated product offering to market," the statement said.
The updated version is part of the company's plan to attract new institutional customers. Coinbase said the service is aimed at banks, large investors and organizations "looking to add cryptocurrencies to their balance sheet."
According to the company, as of the end of March 2021, more than 8,000 customers had entrusted $122 billion to the platform.
In 2020, Coinbase absorbed cryptocurrency prime broker Tagomi for $75 million.
In January 2021, the bitcoin exchange acquired Routefire, a service specializing in executing large transactions in digital assets. The company also bought infrastructure blockchain solutions provider Bison Trails.
In April Coinbase announced the takeover of cryptocurrency derivatives market data provider Skew.
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