Coinbase to acquire leading institutional data analytics platform, skew

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  • Acquisition allows Coinbase to provide real-time actionable data analytics to institutions and traders
  • Enhances Coinbase’s prime offering and helps customers make more informed trading decisions
  • The team from skew bring a wealth of crypto and financial services experience, particularly with derivatives

By Greg Tusar Vice President, Institutional Product

I’m thrilled to announce that Coinbase is acquiring skew, the leading institutional data visualization and analytics platform for crypto markets. Through this acquisition, Coinbase reinforces our commitment to serving the growing institutional market. We know that access to high quality data is essential for institutions assessing investments in crypto assets. That’s why 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. With skew, we’ll arm professional traders with dynamic, aggregated market data, presented in a highly actionable format, all within our market leading prime brokerage.

Today, more than 7,000 financial institutions trust Coinbase as their one-stop shop for accessing crypto markets. Our fully integrated suite of institutional products provides a seamless, powerful and compliant ecosystem for our clients to trade, store, interact, and now analyze crypto markets. The suite combines access to the world’s largest pool of regulated, verified crypto liquidity through Coinbase Pro with high performance APIs and a high-touch coverage team. Paired with access to our global OTC trading desk and Coinbase Custody’s highly secure and insured storage platform, Coinbase delivers the trust, security, and performance needed by investors to trade with confidence. We’re proud to store $122 billion of assets on our platform from institutions, which represents more than half of the $223 billion total assets on our platform (estimated as of 3/31/21*).

Coinbase will continue to serve customers of skew’s analytics product, and we invite new customers to try the skew platform by signing up for an account on skew.com.

Based in London, skew was co-founded in 2018 by CEO Emmanel Goh and COO Tim Noat, with a mission to make cryptocurrency markets more transparent and accessible to institutional finance. Since then, the company has grown to serve more than 100 customers, including One River Asset Management and Susquehanna International Group, and has become a thought leader on the state of derivatives and spot markets in crypto. The company has also built out a bench with a blend of traditional financial services and crypto market expertise, coming from institutions such as J.P. Morgan, Goldman Sachs, and Citigroup.

We are excited to welcome the skew team and their customers to Coinbase. Together, we’ll continue to unlock institutional participation in the cryptoeconomy.

The acquisition is subject to customary closing conditions, and is expected to close in Coinbase’s second fiscal quarter.

To learn more about Coinbase Institutional click here.

*This information is based on information available to the Company as of the date of this release and is subject to the completion of its quarterly financial closing procedures and review by the Company’s independent registered public accounting firm.

Coinbase to acquire leading institutional data analytics platform, skew was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.