Cumberland launches crypto platform for institutional clients

Crypto trading company Cumberland announced on Tuesday that it has launched a spot trading platform for its customers.

Called Marea, the platform will allow customers to place orders online and easily communicate with the Cumberland team.

The new platform will replace the older, more archaic business-making methods the market maker has used in the past.

Before the launch of Marea, traders who wanted to connect with Cumberland had to use third programs such as Skype.

They could also call up the brokers who worked at the ordering or quoting company.

Although this may sound like the 90s on Wall Street, many crypto companies continue to keep their business that way.

The main reason for this is that many institutional traders find the phone call as much more trustworthy and less risky than trading via online crypto exchanges.

In fact, the launch of Marea is an indication of a wider trend in the world of cryptocurrencies today.

With lower interest from retail traders, market makers and brokers are turning to the institutional trading world.

And while this is new and certainly interesting development, it is still early to say whether it will be successful or not.

Source: Finance Magnates

Photo: pixabay.com

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