by Kevin Helms
Citadel Securities and Virtu Financial are reportedly building a cryptocurrency trading platform with help from Fidelity Investments and Charles Schwab. “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,” said Schwab.
Global market maker Citadel Securities and Virtu Financial are building a cryptocurrency trading platform with help from retail brokerage giants Fidelity Investments and Charles Schwab, Bloomberg reported Tuesday, citing people familiar with the matter.
The crypto product is still in its early development, the people said, adding that it could be available late this year or early next year.
A spokesperson for Schwab, Mayura Hooper, said the brokerage giant “has made a minority, passive strategic investment in a new digital asset venture.” She added:
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.
The spokesperson further revealed that her company currently does not have plans to offer direct crypto trading. However, she noted that “when there is further regulatory clarity,” the brokerage firm “will consider introducing direct access to cryptocurrencies.”
Citadel Securities founder Ken Griffin said in March that his company plans to make markets in crypto “over the months to come.”
A spokeswoman for Fidelity, Susan Coburn, told the publication that the financial services firm “supports efforts within the industry that provide optionality to source liquidity for our clients.”
Fidelity said in April that it will allow bitcoin in 401(k) accounts. This announcement upset the U.S. Labor Department and several lawmakers.
What do you think about Citadel building a crypto trading platform with the help of Fidelity and Schwab? Let us know in the comments section below.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP ‘Has Gone Exceedingly Well’
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP “has gone exceedingly well.” He stressed: “This case is important, not just for Ripple, it’s … read more.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)’s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real … read more.
Check all the news here

source

Write A Comment