Popular cryptocurrency services provider BitGo has just announced the launch of a new trading service for institutional investors, The Block reports.
The platform, dubbed BitGo Prime, will be run by Nick Carmi, who has been appointed as the company's CEO.
He has said about the launch of this new service:
"Our challenge was to build an innovative, sustainable trading and lending business that bridges the complex world of technology with the demands of the traditional financial markets. BitGo Prime delivers a new level of control over cryptocurrency trading by aggregating liquidity from multiple counterparties, optimizing order flow and executions directly from the investors' custodial wallets."
More and more companies are joining the race of prime brokers, which are focused on offering institutional investors the possibility of executing trades at the best possible prices available in the market.
iHodl reported yesterday Coinbase had acquired prime broker Tagomi in order to compete in this niche.
One of the biggest attractions of BitGo Prime is that it allows institutional investors to trade digital assets while they keep them in their custody accounts.
BitGo is gradually adding new services. Thus, after spending some time offering its clients a crypto custody service, the firm started to offer loans in March, and now has just added a new feature with the launch of BitGo Prime.
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