Coinshares on Thursday launched its trading business, Coinshares Capital Markets (CSCM), reporting that the unit traded over $3 billion worth of cryptocurrency in 2019 and $1.5 billion during the first quarter of 2020.
The UK digital asset manager is basically rebranding Gabi Trading, a business that it is in the final stages of acquiring, according to a press statement.
CSCM runs a portfolio of trade tools that includes electronic trading, liquidity provisioning, and lending and borrowing. It also provides bespoke hedging and risk management solutions for BTC miners, exchanges, brokers, and crypto funds.
Coinshares Capital Markets has been an active proprietary trading arm of Global Advisors Group. The business will now open its services to relevant counterparties, as part of the rebrand.
“These initiatives are part of Coinshares’ mission to provide clients with a sophisticated, fit-for-purpose suite of products and services designed specifically for digital assets,” said the firm.
“This acquisition is part of a larger strategic realignment under the firm’s new leadership comprised of chief executive officer, Jean-Marie Mognetti; chief strategy officer, Meltem Demirors; and chief revenue officer, Frank Spiteri,” it added.
In November 2019, Coinshares moved to increase its American presence by acquiring a broker-dealer license from the U.S. Financial Industry Regulatory Authority.
It got the license through the acquisition of broker dealer registered under Group Capital which then underwent a name change to Coinshares Capital.
CSCM has a historical relationship with Coinshares, having supported the firm’s passive products and family of funds.
The unit has also previously deployed proprietary trading strategies for the six-year-old digital assets management company which has offices in Jersey, London, Stockholm, and New York.
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