Caspian, a full-stack cryptocurrency trading and risk management platform, will be partnering with the OKEx exchange as part of its effort to improve the infrastructure for the institutional adoption of cryptocurrency trading. Caspian is a joint venture between Hong Kong-based blockchain firm Kenetic and Tora, a supplier of asset management technology.
OKEx is a relatively new cryptocurrency exchange, as it was founded in 2017. Headquartered in Hong Kong, the exchange is known for becoming one of the largest cryptocurrency exchanges within a short time. OKEx is quite ambitious compared to other cryptocurrency exchanges, as it was recently reported that the company is attempting to create its own blockchain called the “OKChain.”
OKEx also recently expanded to Malta because the country embraces blockchain arguably more than any other country in the world, resulting in the Mediterranean nation earning the nickname “Blockchain Island” in various cryptocurrency circles.
Under the partnership to “support the institutionalization of crypto trading,” Caspian will integrate certain aspects of the OKEx platform such as cryptocurrency futures and spot products. The partnership plans on focusing first on the Chinese market before expanding elsewhere.
The vice president of OKEx, James Jiang, elaborated that the company believes there is a tremendous amount of potential for the partnership in China, stating: “There is huge potential for institutionalization of crypto in China and more broadly. We are delighted to have teamed up with Caspian to help facilitate our clients’ needs in this space.” Lewis Fellas, who recently joined Caspian’s board of strategic advisors, believes that the company is uniquely fit to help introduce institutional clients to the cryptocurrency markets, stating: “Caspian has removed many of the barriers to entry for institutions and I’m confident they will continue to play a significant role in the expansion of the cryptocurrency asset class.”
Caspian has been marketed as an “institutional-grade” crypto trading system for some time now, and was able to raise $16 million in its pre-token sale. One advantage of the platform is that it provides a single interface for institutional clients to examine their holdings on various exchanges, as well. Caspian also recently announced that crypto derivative trading was now possible on the platform earlier this year.
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