New York-based neobroker Public.com will now enable its customers to trade and store ten different cryptocurrencies on its platform, the company said in a blog post on 7 October.
Public.com is the latest fintech firm to launch support for crypto trading services, allowing its customers to trade and store crypto on the same app they use to manage their protfolios. The company will initially offer traiding support for Bitcoin, Ethereum, Dogecoin, Cardano, Litecoin, Bitcoin Cash, Stellar, Zcash, Ethereum Classic, and Dash. Public.com said in its announcement:
“Crypto is gaining momentum as a compelling asset class for millions of investors. A study fielded earlier this year found that as many as thirteen percent of Americans have traded cryptocurrency in 2021 — and outside that group, many more are curious about learning more as they build a modern, diversified portfolio.”
Public.com has also partnered with Apex Crypto — which will provide execution and custody services to the crypto trading tool — but as the company does not hold a BitLicense, the new offering will not be available in New York state. Public.com further said the new crypto feature will be made available to customers “gradually over the next few weeks”.
The neobank is the latest in a growing number of traditional firms to have embraced crypto trading this year, and have either launched support for the service or are already making preparations to do so in the future. Companies such as Interactive Brokers Group and SelfWealth are planning to roll-out crypto trading by the end of 2021, while Spain’s BBVA has already launched BTC trading services to its private banking clients.