Neobrokerage company Public.com deploys crypto trading tools

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New York-based neobroker Public.com is launching crypto trading tools, becoming the latest of a growing number of fintech companies to take the plunge, according to a report in the Wall Street Journal.

The stock market start-up, which was valued at $ 1.2 billion earlier this year, will now support trading in bitcoin, bitcoin cash, ether, ethereum classic, dogecoin, litecoin, stellar, zcash, cardano and dash, according to a press release.

Over three quarters of investors who entered financial markets through meme stocks, such as dogecoin, went on to diversify their portfolios, according to a recent Public.com survey.

Apex Crypto, a subsidiary of Apex Clearing, manages the execution and custody services of the new crypto trading tool.

The crypto train

A wide range of fintech companies, from neobrokers to neobanks, have deployed crypto trading tools this year.

The Block reported in February that Plum and Freetrade, two UK-based investment apps, were recruiting crypto experts to expand their offerings. That same month, across the pond, the MoneyLion mobile banking app announced plans for a new suite of crypto products. In April, German neobroker Trade Republic officially entered the crypto market, followed by neobank N26 in July.

Launched in 2019, Public.com has raised more than $ 310 million to date from investors such as Tiger Global Management, Accel and Lakestar.

© 2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.


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