US-Subsidiary of Monex Group, TradeStation to Launch Crypto Brokerage Platform Later this Year

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.


US-Subsidiary of Monex Group, TradeStation to Launch Crypto Brokerage Platform Later this Year

January 15, 2019

Monex GroupThe US subsidiary of Japanese financial services major Monex Group, TradeStation has revealed its plan to launch cryptocurrency brokerage services in the country later this year with the brand name, TradeStation Crypto.

For the new crypto service, TradeStation will leverage on its expertise in the brokerage industry to address some of the critical concerns and weakness that the current cryptocurrency ecosystem faces. The company said in its statement.

The company has no specific timeline for the launch of the crypto services platform, but it has already applied for money service business registration with each state regulator. The money transmittal license (MTL) allows a crypto firm to offer both the crypto-to-crypto and fiat-to-crypto trading pairs.

For Monex Group, it is not the first encounter with the cryptocurrency products, and it has earlier saved the hacked-crypto exchange CoinCheck to remain in business. The brokerage has announced in July last year that it will try to gain a foothold in the US cryptocurrency market with dedicated services offering and will mainly cater to the institutional class investor. Then it said that it would try to build a base on the top of 2 million client accounts which it holds worldwide.

Monex Group has acquired hacked-cryptocurrency exchange, Coincheck in April 2018 after it was hacked of $534 million in January, forcing it to near shut-down. Monex Group has also invested in soon to be launched cryptocurrency exchange ErisX, which has also raised over $25 million from investors like Fidelity Investments and Nasdaq Ventures.

Commenting on the news, President of TradeStation Group, said:

“We believe investors and traders are seeking ways to access and trade cryptocurrency products similar to the way they trade traditional capital markets – and through a trusted and familiar brand and company. Our focus will be to provide the tools and services that serious traders require to trade across multiple asset classes, including crypto.”

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