Online broker Monex Group, known for buying hacked Japanese crypto exchange Coincheck in April, has announced it will launch cryptocurrency trading in the United States, Cointelegraph Japan reports Wednesday, Dec. 12.
Monex held a conference in Tokyo, where John Bartleman — president of Monex’s U.S. subsidiary TradeStation Group, Inc. — took part. He announced that crypto trading will be available for U.S. customers starting Q1 2019.
Moreover, Bartleman revealed that TradeStation is interested in crypto investments in general. The company has already joined the series B funding round of new U.S. crypto exchange ErisX, whose crypto services will soon launch pending the country’s financial regulators’ approval.
Speaking exclusively to Cointelegraph Japan, Bartleman claimed the platform is going to go live with the top five cryptocurrencies traded in U.S., which are Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH) and “maybe” Ripple (XRP).
TradeStation’s head also noted that the company is in the process of receiving a money transmitter licensing for every U.S. state, which would take from nine to twelve months.
According to Bartleman, TradeStation will focus on institutional investors in comparison to other U.S. crypto exchanges, such as Coinbase or RobinHood that target small investors.
The platform is going to interact with brokers and traditional markets, connecting multiple liquidity providers to attain volumes sufficient for core customers. “The mood has changed from this hysteria of all kinds of startups everywhere,” he further explained, stating that solid crypto firms are getting “mature” amidst the late 2018 market collapse.