Report: E*Trade Financial to Launch Cryptocurrency Trading Services

U.S. stockbroker E*Trade Financial is purportedly launching cryptocurrency trading services.

Citing “a person familiar with the matter,” Bloomberg reported on April 27 that E*Trade will initially provide support for bitcoin (BTC) and ether (ETH) trading, with more cryptocurrencies to be added soon.

A tech reporter at The New York Times, Nathaniel Popper, tweeted on April 26 that the U.S. brokerage is also purportedly finalizing a third party to store the cryptocurrencies.

Established in 1982, Nasdaq-listed E*Trade has almost four million customers. The company also introduced trading in bitcoin futures last year from CME Group for customers.

Conventional financial players are gradually seeking to provide cryptocurrency services. For instance, another brokerage, TD Ameritrade, announced last week that it was testing bitcoin and litecoin (LTC) trading on its platform. TD Ameritrade also invested in cryptocurrency exchange ErisX last year, although no amount was disclosed.

On the other hand, mobile stock trading Robinhood introduced cryptocurrency trading services more than a year ago and revealed recently a plan to hold an initial public offering (IPO).