Binance Jersey ties up with Galaxy-backed crypto platform, aiming to increase trading volumes in Europe

Exchanges • August 15, 2019, 6:40AM EDT
The Block

Fiat-to-crypto exchange Binance Jersey has collaborated with Galaxy Capital-backed institutional trading and portfolio management platform Caspian, aiming to increase trading volumes in Europe.

The partnership will allow Caspian’s clients to trade “new pairs faster and more efficiently than ever before,” said the firm’s managing director, Chris Jenkins, in an announcement Wednesday.

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Binance Jersey, on the other hand, will benefit from Caspian’s order and execution management system, according to the exchange’s CEO, Jon Day. He added that the partnership will “significantly improve day-to-day trading facilities.”

Caspian provides access to over 30 spot exchanges and 7 derivatives exchanges via a common interface. Besides Galaxy Capital, the platform is backed by Kenetic Capital, Octagon Strategy, Techemy Capital and others, having raised $16 million last October.

Binance Jersey was launched earlier this year on the island of Jersey, a British self-governing dependency, targeting traders in Europe and the U.K. It allows users to trade cryptocurrencies against the British pound and the euro.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.

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