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Cryptocurrency

U.S.-based clearing house opens crypto trading platform for brokers and advisors

June 28, 2019, 2:17AM EDT

Apex Clearing Corporation, the U.S.-based clearing and custody house, has launched a cryptocurrency trading platform for broker-dealers and financial advisors to help their clients invest in cryptocurrencies more easily.

The firm announced the news Thursday, saying that the Apex Crypto platform allows moving assets from a traditional investment account "in just a few clicks", opening and funding new accounts "in minutes" as compared to weeks it takes traditionally.

The crypto platform currently supports four cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC), according to the announcement. Apex said the platform is currently accessible in 40 U.S. states and the District of Columbia, with additional states expected to join in the future.

"The interest and demand for cryptocurrency continues to rise," said Edward Haravon, chief operating officer at Apex Crypto.

Apex's client, discount stock brokerage firm SogoTrade, has already rolled out the crypto platform to its U.S.-based clients and is planning to expand it for international clients in "the near future." 

Apex further said that its crypto platform also allows clients to meet legal and regulatory guidelines by holding crypto assets in separate accounts.

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