TradeStation Plans To Launch A Crypto Brokerage In 2019
TradeStation Group is a US subsidiary of Monex Group, a major financial services firm in Japan. It recently said that it would launch crypto services in 2019 under the name TradeStation Crypto. For the new venture, TradeStation will leverage its experience in the brokerage sector to address key concerns that weaknesses the crypto world.
Monex Group And Brokerages
Monex Group already runs various brokerages globally. However, there are rumours that it wants to make a huge push in the crypto world. At the start of 2018, the company set up a crypto unit to examine what opportunities exist in the industry.
Monex made a significant foray into the crypto world by helping Coincheck remain in business. After that, it decided that it wanted to be part of more attractive markets in the crypto world. As a result, it decided that it would launch a crypto subsidiary in the US for its brokerage arm.
No timeframes have thus far been set forth. However, Monex has already filed a money services business registration for each state in the US. With the money transmittal license, Monex will be able to offer crypto-to-crypto and fiat-crypto trading pairs.
Time For Other Brokerage Firms To Wake Up
In July 2018, Monex made public its plans to enter the US crypto economy. To do this, it would offer offerings that cater to institutional investors. It would achieve this by building on top of more than two million accounts that it holds globally.
In April 2018, Monex had acquired Coincheck, the crypto exchange. At the time, the exchange had been the target of a hack that managed to steal $534 million in investor funds. The exchange was almost brought to its knees but the Monex investment helped to save it.
TradeStation has not been lying idle either. It recently invested in ErisX, an exchange that is set to launch soon. The exchange managed to get over $25 million from investors such as Fidelity Investments and Nasdaq Ventures.
This move comes at the same time as when the SEC has made a push to find legit platforms where people can trade digital assets. According to the president of TradeStation Group, he believes that investors and traders desire a place where they can access and trade crypto in much the same way they trade in capital markets. He added that there was a desire to find a trusted partner for this. Thus, the company plans to offer services and tools for serious traders who would love to trade in multiple asset classes, which includes crypto.
About TradeStation Group
For over 30 years, the group of companies has been a pioneer in online trading. It is committed to offering traders the best tech and services, support, and education. The group’s award-winning platforms offer access to options, equities, and futures trading in the US. Users of TradeStation have access to powerful tools they use to test, optimize, monitor, and automate their trading strategies.