Citadel And Virtu Hone Crypto Executions For Retail Brokerages

Citadel Securities, alongside Virtu Financial Inc 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 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.”

Posted In: Charles Schwab Corporationcitadel securitiesfidelity investmentsVirtu FinancialCryptocurrencyFintechNewsHedge FundsMarketsGeneral

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