Tagomi Holdings Inc., an electronic brokerage firm for digital assets, has officially launched, according to a December 17 press release.
The firm, which is backed by PayPal co-founder Peter Thiel’s venture capital firm, offers institutional grade investment services for digital assets. Such services include cross-border market execution, capital management, post-trading reporting, and custodial and settlement services.
These services offered by Tagomi are strictly for sophisticated investors who expect and require institutional operational standards.
Besides Peter Thiel’s venture capital firm backing the brokerage, numerous other serious investors are backing Tagomi Holdings with $16 million raised. These top tier investors include Thiel’s Founders Fund, Collaborative Fund, SV Angel, Joe Lonsdale, Brainchild, Digital Currency Group, ZhenFund, Box Group, Elad Gil, Charlie Noyes, and others.
The electronic brokerage firm for digital assets by Tagomi Holdings is exactly what high net worth individuals and institutional investors need to invest and trade cryptocurrencies confidently.
According to Joe Lonsdale, a highly successful individual and founder of Palantir and Addepar, the cryptocurrency industry needs a more transparent and sophisticated system for dealing with this emerging asset class.
As reported in the press release, Lonsdale said:
Cryptocurrency trading lacks the transparency and sophisticated execution that top family offices and wealth management firms have come to expect. I’m excited to see an ambitious team with the right experience in finance and technology fix this, creating a solution we trust,
Greg Tusar, the Chief Technology Officer of Tagomi, stated that the system behind Tagomi applies proven electronic trading solutions that sophisticated investors expect. He also noted that their platform removes the hurdles common with digital asset investing.
Jennifer Campbell, the CEO of Tagomi said:
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.
The launch of Tagomi Holdings for institutional investment comes as no surprise, and the firm is just one of many that’s coming to the space.
Another example is the Swiss Bitcoin ETP that recently saw record volume as institutional investors bought the dip. Binance also recently launched subsidiary accounts to benefit institutional investors.
Bakkt is also launching a digital assets exchange with physically settled Bitcoin futures in January 2019. Also, Nasdaq is following suit with the launch of their Bitcoin futures shortly after.
Institutional investors and high net worth individuals want to invest in the digital asset marketplace, and there are more and more on-ramps being developed and launched for them to do so.
What will be the next development to bring in institutional investors? Which institutional level crypto exchange, brokerage, or service will drive the most cryptocurrency investment? Let us know what you think in the comment section below.
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