Binance’s cryptocurrency trading platform for United States-based users, Binance.US, has partnered with crypto brokerage firm Tagomi to provide institutional liquidity for its users.
The partnership was announced in a Nov. 21 press release, detailing that Binance.US will now offer institutional liquidity for Tagomi’s users, including quant funds, venture funds, family offices, individual retirement accounts and high-net-worth individuals. Tagomi’s customers will also receive increased access to Binance.US’s select trading pairs.
Cultivating a new class of crypto investors
Commenting on the development, Catherine Coley, CEO of Binance.US, noted that the new collaboration will help lower the barriers to enter the market, as well as bolster a new class of cryptocurrency investors. Marc Bhargava, president of Tagomi, stated:
“Few countries can rival the liquidity and demand of U.S. markets. Large funds, venture capitalists and family offices in the U.S. need secure access to participate in the crypto market as global players. Binance.US is tilting the odds in their favor by offering Americans broader asset exposure.”
Crypto brokerage platform developments
In a move to further expand its offerings, Tagomi procured a BitLicense from the New York State Department of Financial Services in late March, which made it legally authorized to trade virtual currency assets and to engage in money transmission in the state.
In September, Tagomi enabled its users to lend or borrow Bitcoin (BTC) and Ether (ETH) to facilitate long or short trades. The exchange thus aims to make shorting easier by offering immediate access to multiple counterparties from a single platform.
On Nov. 20, news broke that U.S.-based Trade Station — a subsidiary of Coincheck owner Monex Group — is launching a cryptocurrency brokerage platform via a newly-launched offshoot called Trade Station Crypto. The firm will provide crypto traders with access to aggregated, multiple liquidity pools, thereby improving price execution.