Difference between revisions of "Tagomi"

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Tagomi is an electronic agency brokerage service that launched on December 17, 2018.<ref>{{cite web|url=https://www.theblockcrypto.com/2018/12/17/peter-thiel-backed-crypto-broker-tagomi-went-live-today-and-its-hoping-to-hold-wall-streets-hand-as-it-dips-its-toes-into-bitcoin/|name=Peter Thiel-backed crypto broker, Tagomi, went live today — and it’s hoping to hold Wall Street’s hand as it dips its toes into bitcoin|org=The Block Crypto|date=December 18, 2018}}</ref> Tagomi focuses on serving institutions with large [[cryptocurrency]] transactions.<ref>{{cite web|url=https://cointelegraph.com/news/peter-thiel-backed-electronic-brokerage-firm-tagomi-launches|name=Peter Thiel-Backed Electronic Brokerage Firm Tagomi Launches|org=Cointelegraph|date=December 18, 2018}}</ref>  
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Tagomi is an electronic agency brokerage service that launched on December 17, 2018.<ref>{{cite web|url=https://www.theblockcrypto.com/2018/12/17/peter-thiel-backed-crypto-broker-tagomi-went-live-today-and-its-hoping-to-hold-wall-streets-hand-as-it-dips-its-toes-into-bitcoin/|name=Peter Thiel-backed crypto broker, Tagomi, went live today — and it’s hoping to hold Wall Street’s hand as it dips its toes into bitcoin|org=The Block Crypto|date=December 18, 2018}}</ref> Tagomi focuses on serving institutions with large [[cryptocurrency]] transactions.<ref>{{cite web|url=https://cointelegraph.com/news/peter-thiel-backed-electronic-brokerage-firm-tagomi-launches|name=Peter Thiel-Backed Electronic Brokerage Firm Tagomi Launches|org=Cointelegraph|date=December 18, 2018}}</ref> Tagomi was acquired by [[Coinbase]] in 2020.<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2020-05-27/coinbase-expands-institutional-services-with-tagomi-purchase?sref=hsY0IYu4|name=Coinbase Expands Institutional Services With Tagomi Purchase|org=Bloomberg|date=May 27, 2020}}</ref><ref>{{cite web|url=https://www.coindesk.com/coinbase-tagomi-acquisition-institutional-trading-arm|name=Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm|org=Coindesk|date=May 27, 2020}}</ref>
  
 
== Products and Services ==
 
== Products and Services ==
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The brokerage's goal is to provide [http://www.marketswiki.com/wiki/Best_execution best-execution] for its customers. Although this concept is still developing in the cryptocurrency space, Tagomi's COO said in an interview with The Block in 2018 that best-execution "is a little more nuanced. We have to look at best price and best liquidity. Getting access to all of this liquidity is difficult...it might not be easy to get connected to a venue where you can get that price but with Tagomi, you can access multiple venues from a single account, and get a much better price execution which represents the full market." Tagomi also offers its customers consulting services to help them execute trades with as little market impact as possible.<ref>{{cite web|url=https://www.theblockcrypto.com/2018/12/17/peter-thiel-backed-crypto-broker-tagomi-went-live-today-and-its-hoping-to-hold-wall-streets-hand-as-it-dips-its-toes-into-bitcoin/|name=Peter Thiel-backed crypto broker, Tagomi, went live today — and it’s hoping to hold Wall Street’s hand as it dips its toes into bitcoin|org=The Block Crypto|date=December 18, 2018}}</ref> With two distinct services for [http://www.marketswiki.com/wiki/Hedge_fund hedge fund] and high net worth individuals and for active traders, Tagomi "streamlined execution" and "advanced trading" products.<ref>{{cite web|url=https://www.apnews.com/ba7aa1fa96ce4fe8aa891142605859c4|name=Tagomi Holdings Inc, an Electronic Brokerage for Digital Assets, Begins Trading|org=AP News|date=December 18, 2018}}</ref>  
 
The brokerage's goal is to provide [http://www.marketswiki.com/wiki/Best_execution best-execution] for its customers. Although this concept is still developing in the cryptocurrency space, Tagomi's COO said in an interview with The Block in 2018 that best-execution "is a little more nuanced. We have to look at best price and best liquidity. Getting access to all of this liquidity is difficult...it might not be easy to get connected to a venue where you can get that price but with Tagomi, you can access multiple venues from a single account, and get a much better price execution which represents the full market." Tagomi also offers its customers consulting services to help them execute trades with as little market impact as possible.<ref>{{cite web|url=https://www.theblockcrypto.com/2018/12/17/peter-thiel-backed-crypto-broker-tagomi-went-live-today-and-its-hoping-to-hold-wall-streets-hand-as-it-dips-its-toes-into-bitcoin/|name=Peter Thiel-backed crypto broker, Tagomi, went live today — and it’s hoping to hold Wall Street’s hand as it dips its toes into bitcoin|org=The Block Crypto|date=December 18, 2018}}</ref> With two distinct services for [http://www.marketswiki.com/wiki/Hedge_fund hedge fund] and high net worth individuals and for active traders, Tagomi "streamlined execution" and "advanced trading" products.<ref>{{cite web|url=https://www.apnews.com/ba7aa1fa96ce4fe8aa891142605859c4|name=Tagomi Holdings Inc, an Electronic Brokerage for Digital Assets, Begins Trading|org=AP News|date=December 18, 2018}}</ref>  
  
In September 2019, Tagomi announced its new service where it brokers bitcoin and Ethereum loans between Tagomi partners customers.<ref>{{cite web|url=https://www.theblockcrypto.com/post/39574/crypto-broker-tagomi-launches-lending-and-borrowing-services-to-facilitate-short-selling/?utm_source=newsletter&utm_medium=email&utm_campaign=2019-09-12|name=Crypto broker Tagomi launches lending and borrowing services to facilitate short selling|org=The Block Crypto|date=September 13, 2019}}</ref>   
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In September 2019, Tagomi announced a new service where it brokers bitcoin and Ethereum loans between Tagomi customers. The lending service is designed to facilitate Tagomi's customers' short selling of the cryptocurrencies.<ref>{{cite web|url=https://www.theblockcrypto.com/post/39574/crypto-broker-tagomi-launches-lending-and-borrowing-services-to-facilitate-short-selling/?utm_source=newsletter&utm_medium=email&utm_campaign=2019-09-12|name=Crypto broker Tagomi launches lending and borrowing services to facilitate short selling|org=The Block Crypto|date=September 13, 2019}}</ref>   
  
 
== Background ==
 
== Background ==
  
 
Tagomi, which is a privately-held company, has raised $15.5 million in funds as of May 2018, including an unspecified amount from Founders Fund, billionaire Peter Thiel’s venture-capital firm.<ref>{{cite web|url=https://www.wsj.com/articles/peter-thiel-backed-venture-to-help-big-investors-bet-on-bitcoin-1525176121|name=Peter Thiel-Backed Venture to Help Big Investors Bet on Bitcoin|org=Wall Street Journal|date=December 18, 2018}}</ref> Tagomi focuses on serving institutions with large [[cryptocurrency]] transactions.<ref>{{cite web|url=https://cointelegraph.com/news/peter-thiel-backed-electronic-brokerage-firm-tagomi-launches|name=Peter Thiel-Backed Electronic Brokerage Firm Tagomi Launches|org=Cointelegraph|date=December 18, 2018}}</ref>  
 
Tagomi, which is a privately-held company, has raised $15.5 million in funds as of May 2018, including an unspecified amount from Founders Fund, billionaire Peter Thiel’s venture-capital firm.<ref>{{cite web|url=https://www.wsj.com/articles/peter-thiel-backed-venture-to-help-big-investors-bet-on-bitcoin-1525176121|name=Peter Thiel-Backed Venture to Help Big Investors Bet on Bitcoin|org=Wall Street Journal|date=December 18, 2018}}</ref> Tagomi focuses on serving institutions with large [[cryptocurrency]] transactions.<ref>{{cite web|url=https://cointelegraph.com/news/peter-thiel-backed-electronic-brokerage-firm-tagomi-launches|name=Peter Thiel-Backed Electronic Brokerage Firm Tagomi Launches|org=Cointelegraph|date=December 18, 2018}}</ref>  
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== Company History ==
  
 
In 2019, the [[New York State Department of Financial Services]] (NYDFS) awarded a [[BitLicense]] to Tagomi, making Tagomi the 18th business to have been issued such a license.<ref>{{cite web|url=https://www.coindesk.com/nydfs-grants-crypto-prime-broker-tagomi-latest-bitlicense|name=New York Grants Its 18th BitLicense to Crypto ‘Prime Broker’ Tagomi|org=Coindesk|date=March 27, 2019}}</ref>
 
In 2019, the [[New York State Department of Financial Services]] (NYDFS) awarded a [[BitLicense]] to Tagomi, making Tagomi the 18th business to have been issued such a license.<ref>{{cite web|url=https://www.coindesk.com/nydfs-grants-crypto-prime-broker-tagomi-latest-bitlicense|name=New York Grants Its 18th BitLicense to Crypto ‘Prime Broker’ Tagomi|org=Coindesk|date=March 27, 2019}}</ref>
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In February 2020, Tagomi joined [[Facebook]]'s [[Libra]] Association, an organization that governs Libra's [[blockchain]] [[platform]]. The Association includes large tech firms like Lyft, Uber, and Spotify.<ref>{{cite web|url=https://www.theblockcrypto.com/linked/57072/crypto-broker-tagomi-to-join-libra-association-report|name=Crypto broker Tagomi to join Libra Association|org=The Block|date=February 27, 2020}}</ref><ref>{{cite web|url=https://techcrunch.com/2020/02/26/libra-tagomi/|name=Facebook’s Libra Association adds crypto prime broker Tagomi|org=TechCrunch|date=February 27, 2020}}</ref> In March 2020, Tagomi did an exclusive interview with the website ''Finance Magnates'' in which Tagomi's co-founder and Libra Delegate Jennifer Campbell, as well as Marc Bhargava, the company’s president and co-founder, on why they chose to join the Association.<ref>{{cite web|url=https://www.financemagnates.com/cryptocurrency/interview/tagomi-why-we-joined-facebooks-libra-association/|name=Tagomi: Why We Joined Facebook’s Libra Association|org=Finance Magnates|date=March 6, 2020}}</ref>
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<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2020-05-27/coinbase-expands-institutional-services-with-tagomi-purchase?sref=hsY0IYu4|name=Coinbase Expands Institutional Services With Tagomi Purchase|org=Bloomberg|date=May 27, 2020}}</ref><ref>{{cite web|url=https://www.coindesk.com/coinbase-tagomi-acquisition-institutional-trading-arm|name=Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm|org=Coindesk|date=May 27, 2020}}</ref>
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=== Coinbase acquisition ===
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In May 2020, [[Coinbase]] announced that it had acquired Tagomi, giving Coinbase the ability to automatically execute crypto trades valued in the millions of dollars, using Coinbase's holdings for liquidity. Tagomi co-founder Greg Tusar, as well as Tagomi's other co-founders, joined Coinbase in the acquisition as well.<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2020-05-27/coinbase-expands-institutional-services-with-tagomi-purchase?sref=hsY0IYu4|name=Coinbase Expands Institutional Services With Tagomi Purchase|org=Bloomberg|date=May 27, 2020}}</ref><ref>{{cite web|url=https://www.coindesk.com/coinbase-tagomi-acquisition-institutional-trading-arm|name=Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm|org=Coindesk|date=May 27, 2020}}</ref>
  
 
== Key People ==
 
== Key People ==

Latest revision as of 10:38, 27 May 2020


Tagomi
Tagomi-cryptoninjas.png
Founded 2017
Headquarters Chicago and New York
Key People Jennifer Campbell, Founder; Marc Bhargava, Co-founder; Greg Tusar, Co-founder, CEO; Venu Palaparthi, COO; Kevin Johnson, COO; Dhawal Sharma, General Counsel
Employees 10 - 20
Products Electronic digital assets broker
Twitter @tagomisystems
LinkedIn Profile
Website Tagomi Homepage

Tagomi is an electronic agency brokerage service that launched on December 17, 2018.[1] Tagomi focuses on serving institutions with large cryptocurrency transactions.[2] Tagomi was acquired by Coinbase in 2020.[3][4]

Products and Services

The brokerage's goal is to provide best-execution for its customers. Although this concept is still developing in the cryptocurrency space, Tagomi's COO said in an interview with The Block in 2018 that best-execution "is a little more nuanced. We have to look at best price and best liquidity. Getting access to all of this liquidity is difficult...it might not be easy to get connected to a venue where you can get that price but with Tagomi, you can access multiple venues from a single account, and get a much better price execution which represents the full market." Tagomi also offers its customers consulting services to help them execute trades with as little market impact as possible.[5] With two distinct services for hedge fund and high net worth individuals and for active traders, Tagomi "streamlined execution" and "advanced trading" products.[6]

In September 2019, Tagomi announced a new service where it brokers bitcoin and Ethereum loans between Tagomi customers. The lending service is designed to facilitate Tagomi's customers' short selling of the cryptocurrencies.[7]

Background

Tagomi, which is a privately-held company, has raised $15.5 million in funds as of May 2018, including an unspecified amount from Founders Fund, billionaire Peter Thiel’s venture-capital firm.[8] Tagomi focuses on serving institutions with large cryptocurrency transactions.[9]

Company History

In 2019, the New York State Department of Financial Services (NYDFS) awarded a BitLicense to Tagomi, making Tagomi the 18th business to have been issued such a license.[10]

In February 2020, Tagomi joined Facebook's Libra Association, an organization that governs Libra's blockchain platform. The Association includes large tech firms like Lyft, Uber, and Spotify.[11][12] In March 2020, Tagomi did an exclusive interview with the website Finance Magnates in which Tagomi's co-founder and Libra Delegate Jennifer Campbell, as well as Marc Bhargava, the company’s president and co-founder, on why they chose to join the Association.[13]

[14][15]

Coinbase acquisition

In May 2020, Coinbase announced that it had acquired Tagomi, giving Coinbase the ability to automatically execute crypto trades valued in the millions of dollars, using Coinbase's holdings for liquidity. Tagomi co-founder Greg Tusar, as well as Tagomi's other co-founders, joined Coinbase in the acquisition as well.[16][17]

Key People

  • Jennifer Campbell - Founder
  • Marc Bhargava - Co-founder
  • Greg Tusar - Co-founder, CEO
  • Venu Palaparthi - COO
  • Kevin Johnson - COO
  • Dhawal Sharma - General Counsel


References

  1. Peter Thiel-backed crypto broker, Tagomi, went live today — and it’s hoping to hold Wall Street’s hand as it dips its toes into bitcoin. The Block Crypto.
  2. Peter Thiel-Backed Electronic Brokerage Firm Tagomi Launches. Cointelegraph.
  3. Coinbase Expands Institutional Services With Tagomi Purchase. Bloomberg.
  4. Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm. Coindesk.
  5. Peter Thiel-backed crypto broker, Tagomi, went live today — and it’s hoping to hold Wall Street’s hand as it dips its toes into bitcoin. The Block Crypto.
  6. Tagomi Holdings Inc, an Electronic Brokerage for Digital Assets, Begins Trading. AP News.
  7. Crypto broker Tagomi launches lending and borrowing services to facilitate short selling. The Block Crypto.
  8. Peter Thiel-Backed Venture to Help Big Investors Bet on Bitcoin. Wall Street Journal.
  9. Peter Thiel-Backed Electronic Brokerage Firm Tagomi Launches. Cointelegraph.
  10. New York Grants Its 18th BitLicense to Crypto ‘Prime Broker’ Tagomi. Coindesk.
  11. Crypto broker Tagomi to join Libra Association. The Block.
  12. Facebook’s Libra Association adds crypto prime broker Tagomi. TechCrunch.
  13. Tagomi: Why We Joined Facebook’s Libra Association. Finance Magnates.
  14. Coinbase Expands Institutional Services With Tagomi Purchase. Bloomberg.
  15. Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm. Coindesk.
  16. Coinbase Expands Institutional Services With Tagomi Purchase. Bloomberg.
  17. Coinbase Buys Tagomi as ‘Foundation’ of Institutional Trading Arm. Coindesk.