Binance US Set to Provide Liquidity for Prime Broker Tagomi

Siamak Masnavi

On Thursday (November 21), Binance.US, Binance's trading platform for customers based in the U.S., announced that it had entered into a strategic partnership with prime broker Tagomi to provide liquidity for the latter's cross-exchange trading platform.

Binance.US, which was launched in September 2019, is a digital asset exchange that is "powered by matching engine and wallet technologies" licensed from Binance but is operated by San Francisco-based BAM Trading Services.

Tagomi, "the first live electronic brokerage offering prime services for sophisticated investors of Bitcoin, Ether, and other digital assets", launched on 17 December 2018 with backing from prominent investors such as Founders Fund, Collaborative Fund, SV Angel, Joe Lonsdale, Brainchild, Digital Currency Group, ZhenFund, Box Group, Elad Gil, and Charlie Noyes.

The press release Tagomi issued back then said that Tagomi "helps clients achieve best price execution for digital assets, who expect and require institutional operational standards, treasury management, low transaction-costs, transparency, custody solutions, and other services," and it contained this statement from Tagomi CEO Jennifer Campbell:

At this nascent stage for digital assets, investors are seeking a better way to execute large trades. We’re excited to have built that. Our focus is on providing our clients, which include financial institutions, high net worth individuals and other sophisticated digital asset investors, a comprehensive solution that eases the operational challenges associated with trading at scale in this emerging asset class.

In short, you could say that Tagomi is "an institutional-grade aggregation platform for trading crypto assets at scale."

Tagomi website's FAQ section points out that Tagomi is not an exchange:

Tagomi execute trades across multiple liquidity venues, including exchanges and OTC desks, in order to achieve better price execution for clients.

In a blog post published earlier today, Binance.US said that this new partnership will "offer Tagomi’s users, namely quant funds, venture funds, family offices, IRAs and HNWI, increased access to the Binance.US marketplace’s select trading pairs," and this will help Binance.US "take a large step forward in bridging market demand for a wider range of digital assets."

Marc Bhargava, President of Tagomi, had this to say:

Few countries can rival the liquidity and demand of U.S. markets. Large funds, venture capitalists and family offices in the U.S. need secure access to participate in the crypto market as global players. Binance.US is tilting the odds in their favor by offering Americans broader asset exposure.

As for Catherine Coley, CEO of Binance.US, she stated:

Binance.US is focused on lowering the barriers to entry and cultivating a new class of crypto investors. Institutional traders in the U.S. present an outsized demand that is currently not being met. Our partnership with Tagomi falls directly in line with our mission to make the U.S. a global leader in the growth of the digital asset market, while also helping educate new and sophisticated traders on the wealth of opportunities cryptocurrencies present, well beyond simple investment vehicles.

With today's move, Binance.US becomes "the 15th exchange to join Tagomi, along with a number OTC desks both in the U.S. and abroad."

Featured Image Courtesy of Tagomi