Coinbase to connect with Enfusion system to streamline institutional crypto trading

Cryptocurrency exchange Coinbase (NASDAQ:COIN) and cloud-based investment management platform Enfusion (NYSE:ENFN) will establish connectivity between its systems to enable institutions to trade digital assets at Coinbase. Enfusion (ENFN) will connect its order execution management system and portfolio management system with Coinbase Prime, Coinbase's (COIN) institutional integrated solutions that provides secure custody, a trading platform, prime services and market data. Upon connection, investment managers, including hedge funds, will be able to view through Enfusion (ENFN) their crypto assets alongside the rest of their portfolio. The integrations between both platforms are expected to be completed in Q2 2022. Looking forward, "we expect financial institutions to continue to increase their portfolio exposure to crypto," said Coinbase Prime Head of Institutional Sales and Trading Brett Tejpaul. Meanwhile, shares of (COIN +2.2%) gain while (ENFN -0.8%) slides. Previously, (Dec. 9) Coinbase said it will support hardware currency wallets.