Market makers Citadel Securities and Virtu Financial Inc will create a crypto trading platform to increase access to digital assets.
The product, which will be built with the help of retail brokerages Fidelity Investments and Charles Schwab (NYSE:SCHW) Corp, could be available as soon as the year end or early next, Bloomberg reported.
It will be Citadel and Virtu’s first venture into the crypto world, which traditionally offer trading in equities and exchange-traded funds (ETFs).
Citadel founder Ken Griffin said the company intended to make markets in crypto but did not provide a timeline.
“We know there is significant interest in this cryptocurrency space and we will look to invest in firms and technologies working to offer access with a strong regulatory focus and in a secure environment,” Mayura Hooper, Schwab spokeswoman, said.