Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Coinshares on Thursday launched its trading business, Coinshares Capital Markets (CSCM), reporting that the unit traded over $3 billion worth of cryptocurrency in 2019 and $1.5 billion during the first quarter of 2020.
The UK digital asset manager is basically rebranding Gabi Trading, a business that it is in the final stages of acquiring, according to a press statement.
CSCM runs a portfolio of trade tools that includes electronic trading, liquidity provisioning, and lending and borrowing. It also provides bespoke hedging and risk management solutions for BTC miners, exchanges, brokers, and crypto funds.
Coinshares Capital Markets has been an active proprietary trading arm of Global Advisors Group. The business will now open its services to relevant counterparties, as part of the rebrand.
âThese initiatives are part of Coinsharesâ mission to provide clients with a sophisticated, fit-for-purpose suite of products and services designed specifically for digital assets,â said the firm.
âThis acquisition is part of a larger strategic realignment under the firmâs new leadership comprised of chief executive officer, Jean-Marie Mognetti; chief strategy officer, Meltem Demirors; and chief revenue officer, Frank Spiteri,â it added.
In November 2019, Coinshares moved to increase its American presence by acquiring a broker-dealer license from the U.S. Financial Industry Regulatory Authority.
It got the license through the acquisition of broker dealer registered under Group Capital which then underwent a name change to Coinshares Capital.
CSCM has a historical relationship with Coinshares, having supported the firmâs passive products and family of funds.
The unit has also previously deployed proprietary trading strategies for the six-year-old digital assets management company which has offices in Jersey, London, Stockholm, and New York.
What do you think about Coinsharesâ new acquisition? Let us know in the comments section below.
The post Coinshares Acquires Gabi Trading: New Unit Traded $3 Billion Worth of Crypto in 2019 appeared first on Bitcoin News.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.