Coinbase Acquires Analytics Firm Skew, Doubles Down on Institutions

The American exchange adds data platform to better “arm professional traders.”

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With this acquisition of Skew, Coinbase can continue tapping into the growing number of institutional investors entering the market. 

Coinbase Adds Skew to Portfolio

Skew has already built out many of the services traditional money managers use, including data on futures markets, options, spreads, and more. The acquisition is still pending and will be finalized in Q2, according to Coinbase’s institutional products lead, Greg Tusar. 

“We’re excited to integrate Skew’s data analytics platform with Coinbase Prime, allowing our customers to track cryptocurrency spot and derivatives markets in real-time,” said Tusar.

Coinbase Prime is the company’s institutional-facing prime brokerage. This arm assisted with Microstrategy’s and Tesla’s Bitcoin purchases in this year and last. 

The acquisition of the analytics provider seeks to strengthen the firm’s ability to serve this variety of crypto investor. 

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Source: cryptobriefing.com