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Benzinga

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Renato Capelj

Citadel And Virtu Hone Crypto Executions For Retail Brokerages

Crypto Citadel Securities Nasdaq Paradigm Sequoia Capital Cryptocurrency

Citadel Securities, alongside Virtu Financial Inc (NASDAQ:VIRT) and venture capital firms Sequoia Capital and Paradigm, is building a cryptocurrency trading ecosystem.

With this, retail brokers would be able to offer better crypto-execution to customers.

Why It Matters: Fidelity Investments and Charles Schwab Corporation (NYSE:SCHW) are also involved in the ecosystem build.

The two are keen on addressing the interest in digital assets with Fidelity, in particular, unveiling in April a product that would allow 401(k) plan participants to direct savings to crypto.

“It’s more of a crypto trading ecosystem or marketplace than an exchange,” CoinDesk reported a source as saying. “It’s going to take on the exchanges by building a better mousetrap.”

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