United States-based TradeStation, a subsidiary of Japanese firm Monex Group, is planning to launch a crypto lending service.
TradeStation launched its app this month and currently, crypto trading is available in 40 states in the U.S.
Monex Group, which is also the owner of prominent Japanese cryptocurrency exchange Coincheck, bought TradeStation in 2011.
This new offering marks yet another traditional finance company entering the crypto lending sector as competition heightens among lenders.
“We are planning to target professional investors such as institutional investors unlike Coinbase or Robinhood which mainly target retail investors.”
Trade Station invested in Chicago-based crypto exchange ErisX in December 2018. In collaboration with TradeStation, ErisX aims to “bring crypto to the world of traditional investing and trading.”