Multi-dealer platforms for crypto are the future, but competition is fierce
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Quick Take
- Both traditional asset management firms like Fidelity and fintech startups like Tagomi are trying to offer brokerage services in crypto, stoking up the competition
- These new players entered the crypto market with plans to develop the multi-dealer platform, a one-stop shop where investors can manage all digital wallets at once, locate the best price, and settle transactions
- There is no clear winner in the crypto brokerage space at the moment, although more firms will likely follow suit as investor interest in cryptocurrencies grows
Both Wall Street giants and financial services startups are trying to gain first-mover advantage in becoming the one-stop brokerage shop for crypto assets. Bloomberg reported on Monday that asset management behemoth Fidelity will roll out its bitcoin trading business in a few weeks, signaling a shift in how trading will be handled in crypto. Traditionally, […]
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