Neo-broker Scalable Capital launches crypto trading tools


Scalable Capital has become the latest neo-broker to push into cryptocurrency trading with the launch of its new product "Scalable Crypto," according to an announcement. 

The product will operate through regulated stock exchanges in Germany, aiming to target "all investors who take their financial investments into their own hands and want to diversify part of their portfolio into digital assets". 

On the platform, cryptocurrencies are held in the form of securities in the customers' existing custody accounts. Trading takes place on the Xetra (Deutsche Börse) and gettex (Munich Stock Exchange) exchanges during regular trading hours. 

The exchange-traded products are managed by CoinShares, which is Europe's largest investment company for digital assets. 

Scalable's move comes amid a rush by others in the neo-broker market to integrate crypto capabilities in their products. Trade Republic, Plum, Freetrade and are just a few examples of companies that have laid out plans or launched in recent months. 

Co-founder and managing director Erik Podzuweit said Scalable's product makes crypto trading as easy as trading stocks or ETFs. 

“Cryptocurrencies have established themselves as an asset class in a balanced portfolio," he said. "With 'Scalable Crypto' we are creating a cheap and intuitive offer to make it easier for even more people to enter the crypto world."

The announcement of new capabilities comes six months after the company's Series E funding round led by Tencent, which raised more than $180 million at a $1.4 billion valuation.

Scalable Capital manages more than €6 billion on its platform. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Will Sanctions Drive Russia into the Arms of Cryptocurrencies?

From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC