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Crypto Exchange Coinbase Enlists Broadridge Financial to Improve Liquidity

Coinbase will use Broadbridge's NYFIX order-routing network.

Updated May 11, 2023, 6:56 p.m. Published Sep 15, 2022, 9:11 a.m.
Coinbase CEO Brian Armstrong. (CoinDesk)
Coinbase CEO Brian Armstrong. (CoinDesk)

Cryptocurrency exchange Coinbase is working with fintech firm Broadridge Financial Solutions to improve buy-side liquidity for traders, according to a press release.

Broadridge will provide Coinbase with its NYFIX order-routing network, which increases liquidity by sourcing it from multiple venues.

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Broadridge joins a growing list of traditional finance companies that have entered the cryptocurrency market this year. Investment giant KKR put a portion of a private equity fund on the Avalanche blockchain earlier this week, while asset manager BlackRock announced it will offer crypto to its institutional clients after partnering with Coinbase in August.

The deal will help bring crypto trading to the institutional market, according to Ray Tierney, president of Broadridge Trading and Connectivity Solutions.

See also: How Are Institutions and Companies Investing in Crypto?


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