ICYMI: Citadel Securities is gearing up to launch a crypto trading ecosystem for brokers
Citadel Securities, the market-making firm founded by billionaire Ken Griffin, is in preparations to launch a digital assets trading ecosystem for brokerages, according to a source with knowledge of the process.
Involved in the preparations are market-making firm Virtu as well as venture capital firms Sequoia Capital and Paradigm, the source said.a $1.15 billion funding round for Citadel Securities earlier this year, as previously reported. Citadel Securities is a separate entity from Citadel LLC, the hedge fund also founded by Griffin.
The idea is that the ecosystem will enable brokers to source liquidity and offer crypto services to their end clients. Anti-money laundering and know-your-customer procedures will form part of this ecosystem, according to the source.telling Bloomberg that crypto"has been one of the great stories in finance over the course of the last 15 years.