Global Fintech firm Broadridge Financial Solutions, Inc. today announced its partnership with Coinbase to facilitate the growing crypto ecosystem.
In the official announcement, Broadridge detailed that the partnership will offer interoperability between Coinbase Prime and Broadridge Trading and Connectivity Solutions’ NYFIX order-routing network.
Greg Tusar, Vice President of Institutional Products at Coinbase, said:
Despite short-term cycles, momentum in institutional adoption is trending one way – toward more exploration and more interest. Utilizing the NYFIX order-routing network, this partnership puts deep, multi-venue crypto liquidity on more buy-side traders’ desks, lowering barriers for participation in this growing asset class.
Additionally, Broadridge noted that the integrated solution allows NYFIX clients to route order flow to Coinbase Prime via FIX, an industry standard protocol. US domestic clients are already being offered the solution and the company said that additional regions will be added as regulations allow.
Ray Tierney, President of Broadridge Trading and Connectivity Solutions, added:
Institutions are increasingly interested in the crypto space but trading assets has remained a challenge because messaging is only available through proprietary API interfaces. Now, through Coinbase’s deep access to liquidity and NYFIX’s extensive market reach, we can integrate more than two thousand clients to bring crypto trading to the institutional market.