The 3 financial giants Citadel, Fidelity and Charles Schwab will jointly launch a cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. trading platform a place to buy, sell and store cryptocurrency in a few months.
- Citadel, Fidelity y Charles Schwab hacen alianza
- Crypto trading platform to be launched
- Sequoia Capital and Paradigm join the project.
- Project is still in its initial stage
Trading firms Citadel Securities y Virtu Financial Inc are collaborating on a “ecosystem” of cryptocurrency trading that will allow retail brokerages to offer cryptocurrencies to their customers, a source with direct knowledge of the matter said.
The consortium of firms behind the project includes venture capital firms. Sequoia Capital capital is most commonly defined as the large sum of money you would use to invest. y Paradigm, as well as some retail brokerages, the source said.
The project, which was first reported on by CoinDesk, is still at a very early stage of its development. the source added.
Afterwards, Bloomberg reported that the companies were developing a cryptocurrency offering with the help of Fidelity Investments y Charles Schwab Corp that would expand access to digital assets. He quoted people familiar with the matter, but no named spokesperson.
In the first stage
Likewise, Charles Schwab he told Reuters yesterday in an emailed statement from spokeswoman Mayura Hooper, that the company had realized “a minority passive strategic investment in a new digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset company”. He also expressed:
“We recognise that there is considerable interest in cryptocurrencies… and we will consider introducing direct access to cryptocurrencies when there is more regulatory clarity.”
The product, still in early development, could be available late this year or early next year, according to the report of Bloomberg.
According to a report by Finbold, Virtu Financial In c will join these three financial giants Citadel, Fidelity y Charles Schwab to develop a crypto-trading ecosystem that will allow cryptocurrencies to “retail brokerages offer cryptocurrencies to their clients” . In addition, as we said, the project will also bring “venture capital firms Sequoia Capital and Paradigm, as well as some retail brokerages.”
The report of Bloomberg, also quotes Susan Coburn, a spokesperson forFidelitywho said the company “supports efforts within the industry that provide the option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. of obtaining liquidity how easily a cryptocurrency can be bought and sold without impacting the overall market price. for our customers.”
These companies and crypto
It is worth remembering that in March of this year, the billionaire investor and CEO of Citadel, Ken Griffin, who had been one of the greatest detractors of Bitcoin, seemed to have changed his mind and made a big shift in his stance on the digital asset industry. In an interview with Bloomberg, the founder of Citadel admitted to being wrong about the asset class, and even went so far as to say that he Citadel was interested in entering crypto-space.
Likewise, Fidelity has caused controversy over its plans to allow Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. into their 401(k) retirement plans, and the U.S. Department of Labor has said they pose a danger to Americans’ financial security.
For its part, Schwab is currently not considering offering direct crypto trading. However, spokeswoman Hooper said it will consider it when there is more regulatory clarity.
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