E*Trade all set to Launch Bitcoin (BTC) and Ethereum (ETH) Trading to 5 Million Customers
Online stock trading platform E*Trade is preparing to launch Crypto trading services to its 5 Million users, sources familiar with the matter told Bloomberg on Friday.
According to the sources, E*Trade is said to launch with Bitcoin (BTC) and Ethereum (ETH) trading after which it will eventually add other Cryptocurrencies.
E*Trade which was founded in 1982 is one of the largest online trading platforms in the US with around 5 Million users, according to the firm’s annual report it holds over $65 Billion in total assets. Its rival Robinhood already introduced Cryptocurrency trading last year and is on its way to launch an IPO (Initial Public Offering).
Nathaniel Popper, a journalist at The New York Times also tweeted about the recent development:
In the wake of TD Ameritrade quietly opening Bitcoin trading for some of its customers, I was just told that eTrade is preparing to begin offering both Bitcoin and Ether trading to its 5 million or so customers and is just finalizing a third party to actually hold the coins.
— Nathaniel Popper (@nathanielpopper) April 26, 2019
Traditional financial firms are slowly adoption Crypto technology to offer new services to their customers, while newer firms like ICE backed Bakkt have delayed their launch Fidelity has already launched Crypto trading services this year. $1.2 Trillion brokerage TD Ameritrade is also said to be testing Bitcoin (BTC) and Litecoin (LTC) trading on its platform.
Blockmanity recently reported about NASDAQ testing out Bitcoin trading on its platform.
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