Coinbase and U.S. infrastructure provider Transaction Network Services (TNS) on Tuesday announced a partnership aimed at speeding up the speed and efficiency of transactions on its crypto derivatives exchange platform.
The development is expected to significantly improve the user experience for Coinbase customers, especially during periods of high network congestion.
Cryptocurrency has experienced both volatile and liquid markets, and with institutional adoption remaining strong, we believe the time is right for the offering TNS brings to the table, said Boris Ilyevsky, CEO of CDE.
Coinbase’s Commodity Futures Trading Commission (CFTC)-regulated Derivatives Exchange (CDE), which launched in June 2022 and made headlines in crypto news, aimed to appeal to more retail traders, as the futures contracts offered on the platform involve less upfront investment compared to traditional Bitcoin-indexed futures products.
According to the announcement, the partnership with TNS will allow Coinbase to use TNS’ global low-latency network to offer faster and more reliable transactions. This will reduce transaction times and improve the overall speed and efficiency of the Coinbase platform.
Tom Lazenga, managing director of TNS’ Capital Markets division said:
We are pleased to add the Coinbase Derivatives Exchange to our robust exchange community,” noting that its “institutional clients can now access crypto futures markets with resilient and efficient connectivity.
The partnership is also expected to benefit Coinbase’s institutional clients, who will be able to take advantage of TNS’ extensive global connectivity to more efficiently access crypto markets. This will provide institutional clients with greater flexibility and agility in their trading strategies, allowing them to react more quickly to market developments.