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

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

Dec 22, 2021 at 4:57 p.m. UTC

Updated Dec 22, 2021 at 6:13 p.m. UTC

Coinbase CEO Brian Armstrong at Consensus 2019. (Steven Ferdman/Getty Images) — Coinbase CEO Brian Armstrong. (Steven Ferdman/Getty Images)

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

Follow @cheyenneligon on Twitter

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.

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.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.