Public.com Launches Crypto Trading
- Valued at $1.2 billion, the neobroker is the latest in a growing number of fintech firms to have launched crypto trading services this year.
- Apex Crypto will provide execution and custody services for the new product, which will be unavailable to Public.com customers in the state of New York.
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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.
- Social trading platforms are an excellent option for those new to the financial markets as they allow users to directly interact with professional and experienced traders.
- These platforms allow users to follow the trades of others, allowing them to leverage the community’s collective wisdom to make informed investment decisions.
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- The new license allows Bybit to offer its full suite of crypto services to users from the third most populous island in the Mediterranean Sea.
- It not only helped the exchange expand its global presence, but also showed its commitment to compliance with local rules.
- The new partnership will expand on Twitter’s $Cashtags feature, which currently shows price data for a few chosen assets, and provide a wider range of crypto and stock prices.
- Twitter will also direct users to the investment platform through a “view on eTroro” tab, where they will be able to purchase or sale assets of their choice.