The year 2018 has seen several collaborations and investments from traditional financial service firms into the crypto market. Recently, TD Ameritrade made a strategic investment in ErisX. It is a regulated derivative exchange and a clearing organization that will support crypto spot markets and digital asset futures on the same platform. This is Ameritrade’s second significant crypto move. Last year, the platform allowed its clients to access Bitcoin futures contracts. It is one of the first to offer such a service.
A New Step for Retail Clients
Claiming that the new investment will be helpful for the company’s retail clients, Steve Quirk, executive vice president of trading and education at TD Ameritrade, said:
“Our retail clients are seeking to access and trade digital currency products in the same way they do with traditional capital markets — through a legitimate, regulated and transparent exchange.”
He added that one of the primary reasons they invested in ErisX is to make crypto products more accessible to retail investors. He also said that as a strategic investor in the initiative, the company looks forward to working with the ErisX team as they launch and develop digital currency products that could be utilized by retail clients. He also explained ErisX’s plans to bring crypto futures and spot markets on a single exchange.
TD Ameritrade’s Crypto Journey
Compared to other financial service companies, TD Ameritrade has been relatively open to digital currencies. It also allowed access to crypto futures to its clients earlier, gaining an edge over competitors.
ErisX CEO Thomas Chippas appreciated this proactive approach of the platform, saying:
“TD Ameritrade is an innovative, forward-thinking firm and we are thrilled to join with them to deliver their clients access to the secure and transparent ErisX digital asset market.”
TD Ameritrade has a long history of supporting financial innovation. The company was the first to enable stock trading on touch-tone phones, the first to offer Internet-based stock trading, and the first to provide mobile trading services. It is also the first company to use artificial intelligence in its trading, making cryptocurrency and blockchains a natural addition to the company’s plans of operation.
ErisX Receives Investment From TD Ameritrade, to Develop a Regulated Cryptocurrency Exchange was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.