January 18, 2024 10:11 am | 2 minute read |
tradestation encryptionIt is a subsidiary of. trade station group, announced its decision to exit the spot crypto trading business on Thursday, marking a significant shift in the company's focus and strategy in the digital asset space.
TradeStation is a significant player in the trading industry, known for its electronic trading platform that caters to active traders and certain institutional markets.
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The company offers trading in stocks, futures, and options, and was also expanding into crypto trading with the aim of providing a robust platform for crypto investors.
According to an announcement from TradeStation's business development team, the company will immediately stop processing new account applications and customer deposits for its crypto division.
Also read: Coinbase meme cat Toshi inspires multi-billion dollar price target: 'Buy it and forget it,' a trader shouts
Additionally, all trades and withdrawals on TradeStation Crypto customer accounts will be permanently suspended on February 22, 2024 at 5:00 PM ET.
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The decision to exit the cryptocurrency spot trading business is limited to TradeStation Crypto and does not affect TradeStation Securities.
TradeStation Securities continues to support the offering of stock options on listed futures, stocks, exchange-traded products (such as ETFs and ETNs), and regulated securities and crypto-related products that are tradable on futures exchanges. I'll go.
The company recently expanded its trading services to include: Abe (cipher: AAVE), compound (Crypto: COMP), wire mesh (cipher: link), polygon (Crypto: MATIC), Maker (cipher: MKR), and Shiba Inu (Code: SHIB).
These virtual currencies have been added to the lineup Bitcoin (Crypto: BTC), bitcoin cash (cipher: BCH), Ethereum (Crypto: ETH), litecoin (Crypto: LTC), and us dollar coin (CRYPTO: USDC) on the platform.
These six additional tokens can now be traded through TradeStation Crypto's web and mobile applications and comprehensive APIs, including both REST and FIX APIs.
Read next: Tether 'has money' Billionaire CEO says: 'Bitcoin will grow'
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