Another Cryptocurrency Trading Platform Emerges as Markets continue giving us a Summer Favorite: A Slip n' Slide
Citadel Securities, Virtu, Fidelity, Charles Schwab, and others team up to build crypto plan...
Cryptocurrencies have seen better days than they have been experiencing within the last month. Even with investors and institutions becoming split on whether or not to be optimistic or panic in this time of market uncertainty, many individuals and institutions are taking advantage of the dip.
One, or two, of those companies, are Citadel Securities and Virtu Financial. It is being reported (and has been confirmed) that the two are leading the creation of a cryptocurrency trading platform with backing from big-name brokerages such as Fidelity and Charles Schwab.
The crypto offering would increase access to digital assets. The product could be available late this year or early next even as it is in the earliest stages of development currently.
A spokeswoman for Fidelity, Susan Coburn, said the company is looking to edge forward in the crypto race and that they “support efforts within the industry that provide optionality to source liquidity for our clients.”
“We know there is significant interest in this cryptocurrency space and we will look to invest in firms and technologies working to offer access with a strong regulatory focus and in a secure environment. There are no current plans to offer crypto directly, but we will consider introducing direct access to cryptocurrencies when there is further regulatory clarity.”
Mayura Hooper, a spokeswoman for Charles Schwab, said. She also reiterated that the company (Charles Schwab) “has made a minority, passive strategic investment in a new digital asset venture.”