U.S. – based TradeStation, a subsidiary of Japanese firm Monex Group, is planning to launch a crypto-currency lending service.
This plan was revealed in Monex’s earning report published earlier on 29th July. Called “Crypto Earn” the new lending service is “C2B2B” that lends institutions borrowed assets from clients.
Earlier in November, TradeStation launched a cryptocurrency brokerage platform via a newly-launched offshoot called TradeStation Crypto. They initially supported Bitcoin [BTC], Bitcoin Cash [BCH], Ethereum [ETH], Litecoin [LTC] & Ripple [XRP].
TradeStation launched its application this month and presently, cryptocurrency trading is available out there in 40 states within the United States.
Monex Group, which is additionally the owner of prominent Japanese crypto exchange Coincheck, bought TradeStation in 2011.
Bitcoin & Institutional Investors
This new offering marks yet one additional traditional financial institution entering into the cryptocurrency lending sector as competition heightens among lenders.
Also earlier in Dec. 2018, John Bartleman, president of TradeStation, clearly stated that their target was institutional investors:
“We are planing to target professional investors like institutional investors unlike Coinbase or Robinhood that mainly target retail investors.”
Trade Station invested in Chicago-based crypto exchange ErisX in Dec 2018. Together with TradeStation, ErisX aims to “bring crypto to the world of traditional investing and trading.”