Citadel Securities & Virtu Create Crypto Plan with Brokerages

Citadel Securities & Virtu Create Crypto Plan with Brokerages

The trading companies Citadel Securities and Virtu Financial are partnering to create a crypto plan with brokerages. The firms are together building a crypto-trading “eco-system” that will allow retail brokerages to offer crypto-executions to their customers, as revealed by an official directly cognizant of the matter.

The venture capital firms Sequoia Capital and Paradigm, as well as a few retail brokerages are also included in this project, as per reports.

Note that the project is still in its nascent stage.

The firms were reportedly coming up with a crypto offering with the assistance of Fidelity Investments and Charles Schwab Corp. that would make digital assets more accessible.

Schwab revealed that it had made a minority, passive strategic investment in a new digital asset venture.

Schwab stated, “We recognize that there is considerable interest in cryptocurrencies … and will consider introducing direct access to cryptocurrencies when there is further regulatory clarity.”

It is speculated that the product might be available later this year or even in the beginning of next year.

Also read: Silicon Valley Investors Sequoia, Paradigm Invest $1.15 Billion in Citadel Securities

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