CSCM runs a portfolio of trade tools that includes electronic trading, liquidity provisioning, and lending and borrowing. It also provides bespoke hedging and risk management solutions for BTC miners, exchanges, brokers, and crypto funds.
Coinshares on Thursday launched its trading business, Coinshares Capital Markets (CSCM), reporting that the unit traded over $3 billion worth of cryptocurrency in 2019 and $1.5 billion during the first quarter of 2020.
The UK digital asset manager is basically rebranding Gabi Trading, a business that it is in the final stages of acquiring, according to a press statement.
Coinshares Capital Markets has been an active proprietary trading arm of Global Advisors Group. The business will now open its services to relevant counterparties, as part of the rebrand.
“These initiatives are part of Coinshares’ mission to provide clients with a sophisticated, fit-for-purpose suite of products and services designed specifically for digital assets”, said the firm.
“This acquisition is part of a larger strategic realignment under the firm’s new leadership comprised of chief executive officer, Jean-Marie Mognetti; chief strategy officer, Meltem Demirors; and chief revenue officer, Frank Spiteri”, it added.
In November 2019, Coinshares moved to increase its American presence by acquiring a broker-dealer license from the U.S. Financial Industry Regulatory Authority.
It got the license through the acquisition of broker dealer registered under Group Capital which then underwent a name change to Coinshares Capital.
CSCM has a historical relationship with Coinshares, having supported the firm’s passive products and family of funds.
The unit has also previously deployed proprietary trading strategies for the six-year-old digital assets management company which has offices in Jersey, London, Stockholm, and New York.
CoinFlip Lists Stellar’s XLM on its 450 Crypto ATMs
Cryptocurrency ATM startup CoinFlip now allows customers to purchase Stellar Lumens (XLM) from its network of machines, according to co-founder and CEO Daniel Polotsky.
The listing increases XLM’s availability in brick-and-mortar stores, Polotsky said. CoinFlip operates about 450 ATMs in gas stations and convenience stores across the United States, allowing customers to buy a variety of cryptocurrencies with credit cards.
It also runs 40 two-way ATM locations where users can sell their crypto for hard cash USD.
CoinFlip ATMs already offer customers access to bitcoin (BTC), litecoin (LTC), ether (ETH), dash (DASH), komodo (KMD), chainlink (LINK) and tron (TRX). Polotsky said XLM’s high daily liquidity and market prominence – plus his customers’ requests – prompted him to list the token.
CoinFlip plans to continue adding coins as it rapidly expands its own ATM network, which already has clearance to run in over 40 states, according to Polotsky.
“We’re trying to push out 20 ATMs a week”, he said.
The Future of the Financial System Is Up for Debate
Announcing CoinDesk’s new opinion section, a place for discussions on the future of money and all the interesting questions that surround crypto and blockchain as ideas.
Starting today, CoinDesk will be publishing daily columnists such as Preston Byrne, Jill Carlson, Nic Carter, HASU, Stephanie Hurder, Jeff Dorman, JP Koning, Yorke Rhodes, Byrne Hobart, William Mougayar, Leah Callon-Butler, Lex Sokolin, Kevin Kelly, Ajit Tripathi and James Cooper.
Wherever you stand on bitcoin as an actual payment system, or whether you think additive X-for-blockchain business ideas went too far, you have to admit they’ve spurred debate in interesting ways.
Geopolitically important projects including central bank digital currencies (CBDCs), Libra, JPM Coin and many others were spawned from bitcoin (BTC). Together, they point to different futures for the financial system, the internet and our rights as digital citizens. These are all issues for discussion in February 2020 because of Satoshi Nakamoto’s writings in 2008.
We plan to have fun conjecturing all this with the help of daily columnists, a diverse range of contributors, long-form interviews, books coverage and more. We want to bring you the best writers and writing every day, covering “generation crypto”, the shift to a new way of thinking.
First up at the plate we have SEC Commissioner Hester Peirce – aka Crypto Mom – writing about her Safe Harbor proposal, a radical reframing of the debate about whether tokens should be treated as securities. She wants feedback. “I continue to urge people – this time in the words of Huey Lewis and the News – ‘If this is it, please let me know … if this is it, I want to know,'” she writes of the proposal. “If this is not it, I want to know that, too.”
Finally, our roving correspondent Jeff Wilser spends quality time with bitcoin OG Erik Voorhees in Colorado. Voorhees says about Libra: “The government is concerned because, if it becomes widely adopted, the dollar loses some of its value. Facebook has more users than the U.S. has citizens.”
We will have more wide-ranging, opinionated content for you in the coming weeks and months. We hope to create a space where reasonable people disagree but everyone is committed to pushing the conversation forward.
If you want to comment, complain or are interested in contributing to CoinDesk’s opinion section, get in touch by sending ideas to firstname.lastname@example.org.