Commission-Free Tastyworks Adds Crypto To Platform For Active Traders
tastyworks, a brokerage for the active trader, formally announced the launch of crypto trading on its award-winning technology platform.
What Happened: tastyworks is a product of tastytrade, a holistic platform dedicated to challenging investors to think and trade strategically.
In light of the digital disruption in traditional finance, tastytrade is unlocking trading access to Bitcoin, Ethereum, Litecoin and Bitcoin Cash, cryptocurrencies with a combined market capitalization of over $735 billion.
“The recent surge in the prices of crypto like Bitcoin and Ethereum has increased customer interest in trading them,” said Scott Sheridan, CEO of tastyworks.
“Our development team has built what we feel is one of the most secure, low-latency, and reliable digital asset order routing and execution systems out there. And most important, it lets our clients buy and sell them and monitor their positions alongside their stocks and options. We are the first major brokerage firm to offer this.”
After requesting approval, tastyworks investors will be able to buy and sell cryptocurrencies directly from their equity accounts, unlocking a new level of portfolio diversification.
See Also: Best Cryptocurrencies In 2021
Why It Matters: The launch comes on the heels of IG Group Holdings Plc’s purchase of tastytrade to scale global access to its products, and further democratize markets.
With the new functionality, tastyworks users will now be able to tap into a market that’s been attracting the attention of institutions and payment networks like PayPal Holdings Inc (NASDAQ:PYPL), which just announced it would invest in a new business unit focused on digital currencies.
“More of our viewers have been asking us about the ‘hows’ and ‘whys’ of trading Bitcoin and other cryptos,” said Tom Sosnoff, co-CEO of tastytrade, the online financial media network. “The ability to trade them directly on tastyworks is huge. Plus, we’ve been working on new statistical research on digital assets that will give traders a different perspective on their use. Stay tuned.”
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