On November 21st, Binance.US, Binance’s trading platform for it’s customers residence in the U.S., announced that it had entered into a strategic partnership with prime broker Tagomi to provide liquidity for the Tagomi’s cross-exchange trading platform.
Binance.US is a digital asset exchange that is “powered by matching engine and wallet technologies” licensed from Binance but is operated by San Francisco-based BAM Trading Services.
Tagomi, “the first live electronic brokerage offering prime services for sophisticated investors of Bitcoin, Ether, and other digital assets”, launched on 17th December 2018 with backing from prominent investors such as Collaborative Fund, Digital Currency Group, SV Angel, Founders Fund, Joe Lonsdale, Brainchild, ZhenFund, Box Group, Elad Gil and Charlie Noyes.
The press release by Tagomi during the launch said that Tagomi “helps clients achieve best price execution for digital assets, who expect and require institutional operational standards, treasury management, low transaction-costs, transparency, custody solutions, and other services,”.
A statement from Tagomi CEO Jennifer Campbell which is in the press release reads:
At this nascent stage for digital assets, investors are seeking a better way to execute large trades. We’re excited to have built that. Our focus is on providing our clients, which include financial institutions, high net worth individuals and other sophisticated digital asset investors, a comprehensive solution that eases the operational challenges associated with trading at scale in this emerging asset class.
Tagomi website’s FAQ section points out that Tagomi is not an exchange:
Tagomi execute trades across multiple liquidity venues, including exchanges and OTC desks, in order to achieve better price execution for clients.
In a blog post published earlier today, Binance.US revealed that this new partnership will “offer Tagomi’s users, namely increased access to the Binance.US marketplace’s select trading pairs,”.
Marc Bhargava, President of Tagomi, said
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.
Catherine Coley, CEO of Binance.US, stated:
Binance.US is focused on lowering the barriers to entry and cultivating a new class of crypto investors. Institutional traders in the U.S. present an outsized demand that is currently not being met. 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.