Susquehanna to Assist Clients Trade Cryptocurrencies
Trading giant Susquehanna International Group which is one of the world’s investment firms has confirmed that it will commence providing cryptocurrency trading to its clients.
Based out of Bala Cynwyd, PA- a suburb of Philadelphia, the company is one of the highest-volume trading companies, and has for a while being involved in stocks, options, ETFs, and other conventional securities.
Yet, the company has discretely been offering over-the-counter (OTC) cryptocurrency trades for a while now and its bitcoin trading desk has seats of close to twelve people.
Presently, the firm hopes to commence providing cryptocurrency to a small group of its 500 clients with the aim of increasing this service in years to come.
“We believe that this technology and this asset class is going to change some facet of financial services, and we think it is going to exist forever,” said Bart Smith, head of Susquehanna’s digital asset group.
According to Smith, the company considers bitcoin as a store of cryptocurrencies for the time being even though in its opinion both the company and another cryptocurrency could turn out to be a so-called native currency for the internet.
Susquehanna will assist its clients to trade actual cryptocurrencies such as bitcoin, ether and bitcoin cahs in addition to bitcoin futures. Given that the company is registered with the Securities and Exchange Commission (SEC) as a broker-dealer, it will be permitted to help its client’s trade cryptocurrencies that are classified as securities by the SEC.
Helping client’s trade cryptocurrency is the company’s recent proof that large-scale investors and institutions are starting to accept this promising asset class, although it is slower than what others expected.
