Here’s how big brokerage firms are breaking into bitcoin trading

Apr 16, 2021 | The Block News | 0 comments

here’s-how-big-brokerage-firms-are-breaking-into-bitcoin-trading

Crypto brokers are making money hand over fist. 

The direct listing of Coinbase put on display just how much money such firms are making, with the exchange reporting nearly $2 billion in revenues during the first quarter of 2021. Much of those revenues were transactional and from trades made on its retail brokerage platform.

Other large brokerages want in on the action, according to Edward Woodford, CEO of crypto firm ZeroHash. The Chicago-based firm works with brokers to jumpstart their own solutions to serve retail clients. On this episode of The Scoop, Woodford joins options brokerage industry trailblazer Tom Sosnoff to discuss why brokers want to create one-stop shops for their clients by incorporating crypto trading as well as the revenue opportunities crypto presents.

Sosnoff founded tastyworks, which began offering crypto through a partnership with ZeroHash announced at the end of last year.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

Related Articles

TSX-traded bitcoin miner Bitfarms scores approval to list on Nasdaq

TSX-traded bitcoin miner Bitfarms scores approval to list on Nasdaq

Bitfarms, a publicly traded bitcoin mining firm, announced on May 7 that it had won approval to list on the Nasdaq Global Market. The timing of the listing is unclear at this time, though the firm said that it was moving "expeditiously" to "confirm Bitfarms’ common...

Pin It on Pinterest

Share This