Citadel Securities and Virtu Financial, a cryptocurrency trading platform, has collaborated on a cryptocurrency trading process that would allow retail brokerages to offer crypto-executions to their customers, according to a source who is fully-versed in the subject.
According to a source, a consortium of venture capital companies is set to be founded by Sequoia Capital and Paradigm, as well as a few retail brokerages.
According to a source, the project, which was first reported by CoinDesk, is still quite early in its development.
Bloomberg claims that the companies were developing a cryptocurrency program with the assistance of Fidelity Investments and Charles Schwab, which would broaden access to digital assets, allowing people to acquire the facts.
Schwab admitted to Reuters on Tuesday that it had made a minor, passive strategic investment in a new digital asset business.
In a statement, Schwab said there is a significant interest in cryptocurrency and will examine expanding the use of cryptocurrency in case there is more regulatory clarity.
According to the Bloomberg report, the product, which is still in its early development, might be available late this year or early next year.
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Cryptocurrency is an unregulated digital currency, not a legal tender, and subject to market risks. The information provided in the article is not intended to be or does not constitute financial advice, trading advice, or other advice or recommendation of any kind, offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast, or other information contained in the article.
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