Skew, an institutional grade blockchain data analytics platform is about to be acquired by United States cryptocurrency giant Coinbase.
Also, new acquisition of Skew, will aid customers make more informed trading decision, according by using real-time data analytics, according to Greg Tusar, the vice president of Institutional products at Coinbase,
Tusar posited that they are happy to integrate skew’s data analytics platform, with prime of Coinbase and which permits customers to track the spot of cryptocurrency and the real time derivatives market. Professional traders, with dynamic, aggregate market, will be given a choice of an actionable format that is quite high and which wil be all within the leading rpime brokerage of the market, according to Tusar.
The acquisition is part of Coinbase’s broader strategy to serve institutional clients. According to Tusar, the exchange will continue to serve Skew’s institutional customers, which include One River Asset Management and Susquehanna International Group.
“While joining Coinbase represents an unparalleled opportunity for skew’s continued growth, we remain acutely focused on supporting our clients and working with our ecosystem partners. We believe our client commitment and offering will only be further enhanced by partnering with Coinbase,” Skew wrote in a Friday blog post.
The company noted that Coinbase has been a Skew client since it launched Skew Analytics two years ago. “We have not only developed a strong, positive relationship with the Coinbase team but have witnessed first-hand their impressive product-led culture, focus on compliance and commitment to the institutional space,” the firm said.
Headquartered in London, Skew was co-founded in 2018 by CEO Emmanuel Goh and chief operating officer Tim Noat with a mission to make crypto markets more transparent and drive institutional adoption. The company has seen rapid growth, accumulating more than 100 customers so far. Skew also established a bench with a mix of traditional financial services and crypto expertise with executives coming from major U.S. institutions such as JPMorgan, Goldman Sachs and Citi.
The news comes weeks after Coinbase went public on Nasdaq. Shortly after the listing on April 14, several Coinbase executives, including CEO Brian Armstrong and chief financial officer Alesia Haas, sold hundreds of thousands of COIN shares, netting millions of dollars.