Coinbase Pro, the US subsidiary of popular crypto exchange Coinbase, announced Wednesday that its affiliated institutional investor prime brokerage platform “Coinbase Prime” has partnered with investment management software provider “Enfusion”.
Unlike Coinbase Pro, Coinbase Prime mainly provides trading and analysis services to institutional investors. The product seeks to connect to Enfusion’s ‘Order Execution Management System’ to provide straight-through processing via APIs Enfusion and streamline institutional trades.
NYSE-listed Enfusion is a provider of cloud-based investment management software and services and is affiliated with more than 680 asset management companies globally. As per the announcement, the partnership will allow Enfusion customers with a Coinbase Prime account to trade digital currencies directly as part of their entire portfolio.
With the partnership, Coinbase Pro likely aims to expand Prime’s institutional investor base, which has been in decline since the third quarter of 2021. The companies will likely complete the upgrade in the second quarter of 2022.
“We expect financial institutions to continue to increase their portfolio exposure to crypto, and we’re committed to offering the best tools to enable them to manage it efficiently,” the announcement read.
