Trading firm Citadel has partnered with Virtu Financial Inc. to develop a cryptocurrency trading platform that enables retail brokerages to offer crypto trading services.
BTCUSD is down 2.58%
The project is implemented in collaboration with other firms, including Sequoia Capital, Paradigm, and multiple retail brokerage firms.
Citadel’s marketplace will reportedly enhance the access to liquidity pools for digital assets. The initial consortium will onboard wealth managers and other industry players before its debut.
The ecosystem, which is still at an early stage, also has the backing of Fidelity Investments and Charles Schwab Corporation. The project could reportedly launch in the year or at the start of 2023.
The report aligns with Schwab’s recent announcement that it had bought a minority passive strategic investment in a new digital asset venture. The company pointed out a growing interest in cryptocurrencies.