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Jimmy Aki

Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.

November 21, 2019
Investing

Binance.US and Tagomi Partner to Offer Institutional Liquidity and Access

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The partnership will give Tagomi’s institutional clients access to Binance.US trading pairs, including BTC, and furnish Binance.US with more liquidity.
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Binance.US has partnered with institutional brokerage firm Tagomi to provide liquidity for its cross-exchange trading platform.

This partnership will enable Tagomi clients, including venture funds, IRAs and family offices, to access Binance.US’s fiat-to-crypto and crypto-to-crypto trading pairs, including BTC. It will also, in turn, furnish Binance.US with more liquidity.

Tagomi is designed for the institutional trading of digital assets at scale. The brokerage targets large-scale and sophisticated investors looking for access to the cryptocurrency market. Now, Tagomi's clients will be able to access the trading pairs through the brokerage's trade infrastructure.

Offering Cryptocurrency Investments to the Institutional Market

Speaking with Bitcoin Magazine about the partnership, Binance.US CEO Catherine Coley emphasized the transformative power of cryptocurrencies and how they can shape our world.

“I see a lot of value in what cryptocurrencies offer by way of disintermediation, and I think it is important that U.S. citizens have access to these currencies that will play a crucial role in the future of currency exchange, payments, etc.,” she said.

This alliance allows Binance.US to take a significant step forward in its mission to bridge the gap between the demand for a wider range of digital assets from investors and the ability of brokerage platforms to supply them.

Institutional demand for crypto assets like bitcoin is on the rise in America. For example, crypto asset manager Grayscale Investments, which offers crypto-related products to investors who don’t necessarily want to manage their own private keys, attracted $254.9 million in net investments for its products in the third quarter of 2019, despite the slump in prices. The investment firm recently applied to become a reporting company with the U.S. Securities and Exchange Commission, in a bid to have its products regulated and attract more institutional investment.

Echoing Grayscale’s move, Coley believes institutions want a larger piece of the cryptocurrency pie but need more education about the right products.

“Institutional traders in the U.S. present an outsized demand that is currently not being met,” she explained. “Our partnership with Tagomi falls directly in line with our mission to make the U.S. a global leader in the growth of the digital asset market, while also helping educate new and sophisticated traders on the wealth of opportunities cryptocurrencies present, well beyond simple investment vehicles.”

Binance.US Making Bitcoin Accessible 

Bnance.US has hit several milestones that should make bitcoin more accessible to more traditional investors since it launched in September 2019, including the addition of an option for American clients to buy bitcoin with their debit cards. In October 2019, the exchange announced that USD deposits stored on the exchange were eligible for Federal Deposit Insurance Corporation (FDIC) coverage.

For Coley, these milestones appear to be progress in a personal mission.

“I came to cryptocurrency with genuine curiosity rooted in frustration with traditional payment systems,” she said. “As an FX trader in Hong Kong, I broached the global currency topic with an understanding of how difficult it can be to live abroad and have bills in various denominations.”