By E*Trade Financial, an online stock brokerage is rumoured to prepping to launch cryptocurrency trading services.
According to a report released by Bloomberg on Saturday, which cited “a person familiar with the matter” stating that E*Trade would initially add trading support for both Bitcoin (BTC) & Ether (ETH) with more digital assets to be included in the near future.
Currently, the financial services entity allows its customers to trade traditional assets which includes common stocks, preferred stocks, mutual funds, exchange-traded funds, futures contracts, options, bonds and fixed income investments. By adding cryptocurrencies to its platform, would mark yet another significant milestone for the digital asset class.
In addition to this, the US-based brokerage is also said to be finalising a third party to hold the digital assets as per a tweet from Nataniel Popper, a technology reporter at The New York Times on Friday.
The Nasdaq-listed E*Trade was founded back in 1982 and boasts close to 4 million customers on its books. Just last year, the firm also launched trading bitcoin futures from CME Group for customers.
It is no secret that today many traditional institutions are seeking to offer crypto services to their customer base. Last week alone, another traditional brokerage TD Ameritrade was rumoured to be testing both bitcoin and litecoin (LTC) trading upon its platform. Back in 2018, TD Ameritrade invested and disclosed amount in ErisX, a cryptocurrency exchange.
Furthermore, Robinhood, the mobile stock trading application launched its cryptocurrency services more than a year ago and also recently announced a plan to launch its initial public offering (ICO).
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