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- Coinbase has announced its plans to purchase Skew’s data analytics platform
- Skew will help the exchange to professional arm traders with dynamic and aggregated market data
- Coinbase will serve Skew’s international clients and help enhance its commitments and offerings
Coinbase, a major crypto assets exchange based in the United States, went public last month. Since the exchange became the first crypto startup to go public, its valuation surged to approximately $100 billion. In recent developments, the exchange has revealed its plans to acquire stakes in Skew, a leading provider of professional data analytics. The cryptocurrency exchange on Friday announced that it agreed to purchase Skew. And mentioned that the purchase would help its users make more informed trading decisions using the real-time data.
Coinbase’s procurement is a part of a broader strategy
According to Greg Tushar, the vice president of institutional products at Coinbase, it will be exciting to integrate Skew with Coinbase Prime. Hence it is expected that the integration will allow Coinbase’s users to track crypto port and derivative market in real-time.
Moreover, Skew will also help professional arm traders with dynamic and aggregated market data. And such data will be presented in a highly actionable format, all within the markets leading prime brokerage platform.
How will Coinbase Prime’s integration help Skew?
According to Tushar, Coinbase will serve the data analytical platform’s international clients. Such clients include One River Asset Management and Susquehanna International Group.
In a recent blog post, Skew has highlighted that joining such a leading exchange represents an unparalleled opportunity for its platform’s continued growth. However, the analytical data platform will remain focused on supporting its clients and working with its ecosystem partners. Simultaneously, Skew believes that Coinbase will help enhance its commitment and offerings.
Coinbase’s integrations will help enhance its platform
Coinbase went public last month and sold its thousands of shares, netting millions of dollars. As of the end of March, the exchange was having $112 billion worth of assets from assets. Indeed, in the current scenario, the exchange is having more than $223 billion worth of assets held on its platform.
Institutional trade volumes have been observed outstripping retail volumes over the past few quarters. Hence, it was also actively acquiring firms with its more significant performance before it went public. And now the exchange is stepping ahead to acquire platforms like Skew and integrate more facilities to enhance its platform.
