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Apex Clearing Announces Cryptocurrency Division

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Apex Clearing to open cryptocurrency division.

Apex Clearing, a global leader in the digital wealth management field, has announced plans to equip its clients with the ability to demand brokerage and cryptocurrency assets.

This announcement comes as a result of continued demand for cryptocurrency by Apex Clearing’s tech-savvy investors.

Apex Clearing

This corporation is an independent joint-venture between Penson Financial Services and Peak6 Investments. Apex aims to increase market stability by curtailing the risk exposure of both Peak6 Investments and Penson Financial Services.

Apex Clearing was created in June 2012, shortly after Penson sold its futures division to Knight Capital.

What is Apex Crypto?

This separate entity is scheduled to be launched in the fourth quarter of 2018. Clients of Apex Crypto will gain access to a wide range of cryptocurrencies, including: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) amongst others.

The CEO of Apex Clearing had the following to say concerning the new service,

Demand continues to surge for crypto, and Apex is meeting the needs of tech-savvy investors by providing the seamless investing experience they want and expect,” he also added that; “We are helping our clients break down barriers to provide the speed, efficiency and flexibility they need to serve the next generation of investors.

Reasons for the Formation of Apex Clearing

The process of simultaneously investing in cryptocurrency and brokerage assets has been hectic at best; Apex Crypto aims to make this process as seamless as possible for investors affiliated with the clients of Apex Clearing.

Investors in Apex Crypto will be able to access market data and quotes with unique statements, transparent pricing, and confirmations for their digital assets.

By creating Apex Crypto, the company clearing hopes to streamline the investing process in digital and traditional assets.

Apex Crypto’s Legalities

Due to regulatory and legal reasons, digital assets in the possession of Apex Crypto investors will be separate from “traditional” Apex Clearing assets.

This would however not complicate the process of account creation between Apex Crypto’s entities.

In Conclusion

Apex Crypto is another in a long list of institutions that decided to adopt digital assets. At the time of writing this piece, there are a slightly under 1,700 cryptocurrencies available for trading.

The future looks promising for Apex and their investors. The next few months will be integral to the growth and survival of this new business.

 

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