First Strand offers first cryptocurrency, wins Schwab and TD Ameritrade

Fox Business has learned that leading online brokerage firm is entering the world of secret currencies and the fast-growing crypto business.

Fort Worth, TX, became the first city to issue Bitcoin; The mayor points to the ‘future of technology’.

Firstrade Securities, a New York-based commission-free business, has become the first major institutional broker to add crypto trading to the platform, with a total of 37 tokens, including top-of-the-line industry giants such as Bitcoin, Ethereum and Cardano. Players come.

The move comes as institutional companies are moving from traditional securities on behalf of investors seeking to extend their portfolios, taking advantage of crypto opportunities in the future and balancing some of the industry’s most popular names.

In this photo gallery, Digital Crypto graphic, Bitcoin will be displayed on January 08, 2021 in front of the bitcoin course graph in Paris, France. (Chesnot / Getty Images / Getty Images)

“What is clear to us is not only the size of the enterprises entering the cryptocurrency space, but also the amount of money spent on the media and lobby,” Limrade Quinnlan-Stam, Firstrade’s chief consultant at Firstrade, told FOX. Business.

With more than $ 6 billion in revenue, Fairstade will be one of the leading institutional online brokers. TD Ameritrade and Charles Schwab do not offer private trade at this time.

President Joe Biden spoke with Treasury Secretary Janet No and Vice President Kamala Harris during a meeting at the White House Roosevelt on March 5, 2021, in Washington, DC. (Al Drago-Pool / Getty Images)

The move reflects the pressure on major companies to adopt cryptocurrency and investors’ desire to own a $ 2 trillion industry.

Wall Street hugged Cryptton unwillingly.

“Momentum is gathering in the crypto space,” Thomas Hayes, chairman of Great Hill Capital, told FOX Business.

Sticker ad posted on Dogecoin on cryptocurrency automated teller machine (ATM) in Hong Kong, China laundry, Friday, March 18, 2022. (Paul Yung / Bloomberg in Getty Images)

As more companies switch to crypto, regulation becomes more part of the discussion. In March, President Biden called on the government to investigate the risks and benefits of cryptocurrencies. Some industry experts are concerned that oversupply will lead to further bottlenecks in the industry, with traders hoping that more will be done in the future.

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“The first step Festradde is taking is to bring the crypto business back to normal,” he told FOX Business.

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