DriveWealth Completes Crypto-Systems Acquisition, Launches 2 Subsidiaries

Zinger Key Points
  • DriveWealth has launched two wholly-owned subsidiaries with plans to offer cryptocurrency trading.
  • The company's exchange platform will offer access to Bitcoin and Ethereum as part of its initial launch.

DriveWealth, a global trading technology provider, formally announced the acquisition and launch of two wholly-owned subsidiaries, DriveLiquidity and DriveDigital.

What Happened: As part of a mission to democratize investing in the U.S. stock market and emerging markets at low cost, DriveWealth acquired Crypto-Systems and unveiled its plans to offer cryptocurrencies.

Pursuant to this development, through its new DriveLiquidity subsidiary, DriveWealth will have the capability to trade cryptocurrencies on a proprietary basis using algorithmic solutions.

Ultimately, DriveLiquidity will act as a liquidity provider to both DriveWealth and other trading venues.

Through the launch of a second subsidiary, DriveDigital, DriveWealth will offer a cryptocurrency exchange platform, rounding out the company’s crypto strategy.

"This next stage of growth for DriveWealth represents an additional milestone in support of our core mission – expanding access to notional investing," said Bob Cortright, Founder and CEO at DriveWealth.

"No other asset class translates to notional investing the way cryptocurrencies do. Creating DriveWealth's crypto vertical strengthens our ability to empower retail investors to enter these markets, while also equipping our partners with the end-to-end technology they need to power the investing experience as we move into the virtual asset space."

Co-Founder and CEO of Crypto-Systems Aaron Sokasian will join the leadership team at DriveWealth Holdings as CEO of DriveLiquidity, while Marcus Anthony will transition from his current role as Chief Strategy Officer at DriveWealth to serve as CEO of DriveDigital.

Why It Matters: Together, DriveWealth will seamlessly connect its partners' retail investors to an API-driven crypto experience.

DriveDigital's exchange platform will offer access to Bitcoin BTC/USD and Ethereum ETH/USD as part of its initial launch.

Posted In: Aaron SokasianBob CortrightDriveWealthMarcus AnthonyFintechNewsManagement

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.