By
Chimamanda U. Martha
April 19th, 2024
Binance Jersey and Caspian have established collaboration which will be beneficial for the enhancement of the services offered by these two firms.
Binance Jersey, the fiat-to-crypto division of the Binance crypto exchange the main aim of which is to provide an opportunity to buy and sell digital assets using British Pounds (GBP) and Euros (EUR), has just entered into an official partnership with Caspian, a crypto portfolio, risk management and trading platform. The announcement was published as a press release on Caspian’s official website on Wednesday the 14th of August.
According to the publication, the collaboration between both firms will improve the efficiency and service of the respective companies and their individual clientele. Specifically, there will be enhanced security for institutional investors and more seamless market access as all of Caspian’s customers will now be able to sell and buy digital assets with the GBP and the EUR. Both firms believe that their synergy will not only improve and scale their individual businesses but also generally ensure an increased volume in trading and engagement in the sector.
Caspian’s Managing Director, Chris Jenkins, has touched on the partnership, describing it as a significant play for increased acceptance for the sector and also a way to handle the expected surge in volume. Jenkins made very optimistic comments:
“I am delighted for us to partner with Binance Jersey, a substantial step in helping move the wide adoption of cryptocurrency trading forward for the institutional market in Europe. As increasing numbers of institutions engage in this emerging sector, there is an increasing need for a reliable fiat-to-crypto exchange. With access to the Binance Jersey exchange, our clients will now be able to trade new pairs faster and more efficiently than ever before.”
What Is Known about Caspian
It was launched as the first crypto investment service that “covers the entire lifecycle of a trade” in March last year. Currently, the platform offers a service that allows access to more than 30 spot exchanges and 7 derivatives exchanges, all from a single touchpoint. This is made possible through its trading algorithms, run by a talented group of engineers and developers.
Binance Jersey Performance
Binance announced its foray into the European market and launched Binance Jersey at the beginning of the year with the BTC/GBP, ETH/GBP, BTC/EUR and ETH/EUR pairs. Binance mentioned at the time that the creation of Binance Jersey was a good way to offer some level of “freedom from looming Brexit uncertainty where the pound and euro are also in concern.”
Binance then further cemented its position in the European markets when in June, as Coinspeaker has reported earlier, it launched the Binance GBP Stablecoin (BGBP) backed by the dollar.
Now, the Binance/Caspian partnership has strengthened this position even more.
“Our clients can now benefit from faster order execution and additional features including a larger suite of customizable market data and parent-and-child order slicing, to name but a few,” said Jon Day, CEO of Binance Jersey.