The online brokerage service provider from the US TradeStation will reportedly be making its self-developed cryptocurrency lending service available soon.
Specifically, TradeStation – a subsidiary firm of Japan-based heavyweight Monex Group – is reportedly going to release a crypto lending service dubbed “Crypto Earn”, operating with the “C2B2B” model which supports lending of institutions borrowed assets from clients.
In November last year, TradeStation has reportedly released a crypto brokerage platform, via a freshly-established brokerage with the name TradeStation Crypto. Previously, they offered facilitating features for Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC) and Ripple (XRP).
TradeStation reportedly made its app available in July 2020 and at the moment, crypto trading activities are reportedly supported across 40 states in the U.S.
Monex Group – which is also the firm that owns the well-known Japan-based crypto exchange Coincheck – reportedly finalized its acquisition of TradeStation in 2011.
This development reportedly set a new milestone for one more traditional finance firm setting foot in the crypto lending space as competition becomes more serious among lenders.
“We are planning to target professional investors such as institutional investors unlike Coinbase or Robinhood which mainly target retail investors.” John Bartleman – president of TradeStation – reportedly remarked concerning their main demographic target.