New York-based online brokerage firm E-Trade Financial Corp. has plans to launch trading services for digital assets, Bloomberg reports. Bitcoin and ether will be the first assets to be supported by E-Trade’s crypto trading service, but the firm has plans to list other assets in the future. This announcement comes on the heels of a report that TD Ameritrade is testing crypto trading on its platform.
A tweet by New York Times reporter Nathaniel Popper suggests that E-Trade is bowing to the pressure of its competitors, as a deluge of traditional financial service providers seem to be rushing into the crypto trading industry.
Last year, the brokerage opened up access to bitcoin futures trading from CME Group to its customers.
Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.