Who is Cumberland?
We are one of the largest principal OTC traders and liquidity providers in the cryptoasset space and a subsidiary of diversified principal trading firm DRW. We specialize in making institutional-sized markets with counterparties in cryptoassets. We do not offer or provide any exchange, brokerage or custodian services.
How do I become an approved counterparty?
To become an approved counterparty, you must meet our minimum trade size of $100,000 and submit required KYC information.
How does trading and settlement work?
Once you are approved as a counterparty, we are able to quote you prices to trade. If we agree on a trade, you will wire in USD (if you are buying) or you will send us cryptoasset (if you are selling). After we receive your delivery, we will send you cryptoasset or issue a USD wire.
What cryptoassets do you trade?
We trade roughly 30-35 cryptoassets, including bitcoin, ethereum, zcash, bitcoin cash and ethereum classic. Markets are priced in USD or BTC, and we can also facilitate many crypto-to-crypto transactions.
What is your minimum trade size?
Our minimum trade size is $100,000.
Are there any fees when trading?
We do not charge a fee. However, please note we calculate a spread based off of current market levels when providing pricing to approved counterparties. We take a number of factors into our calculations such as current index prices, market liquidity, volatility and our overall position in the market.