Public.com to launch function to trade in cryptocurrencies

The company announced that in the coming weeks all its users, except New Yorkers, will be able to use the platform to make crypto transfers

The neo-brokerage group Public.com, based in New York, announced that, in the coming days, it will be launching a feature on its platform that will allow its clients to transact with different cryptocurrencies.

The brokerage revealed that through the new function “users will have the possibility of trading and storing crypto assets in the same application used to manage their portfolios of stocks.”

Public.com’s new crypto asset trading service will provide support, in principle, for 10 digital currencies, among which are: Bitcoin (BTC), Ether (ETH) and Dogecoin (DOGE), Cardano (ADA), Litecoin (LTC) and Bitcoin Cash (BCH), Stellar (XLM), Zcash (ZEC), Ethereum Classic (ETC) and Dash (DASH).

El mercado cripto está valorado actualmente en 1,96 billones de dólares, los activos digitales muestran un crecimiento que oscila entre un 300% y 41.662%.

The digital company will be offering the digital currency trading service in partnership with Apex Crypto, but since Apex Crypto does not have the business license or BitLicense to operate in New York, the product will not be available to residents of that state.

Apex Crypto would be responsible for providing users with the “execution and custody service for the new cryptocurrency trading product” from Public.com.”

Conquering new markets

The diversification of the products and services of the company Public.Com and its irruption in the crypto sector could be part of the business strategy to compete with the Robinhood stock trading platform.

Public like Robinhood would be offering commission-free stock trading. However Public.com’s strength is “an additional social media component that could take advantage of the emerging retail investment frenzy boosted by meme stocks.”

M.Rodríguez

Source: cointelegraph

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