TradeZero, an online broker dealer registered with the Securities Commission of the Bahamas, has announced today that it has teamed up with Bitcoin serial entrepreneur Jered Kenna to create the world’s first “dark pool” exchange for Bitcoin and eventually other digital currencies.
Dark Pool Bitcoin exchange
Dark pools refer to off-exchange trading between two parties and account for more than 40 percent of the volume of stocks being traded on a given day. Kenna pioneered the concept of dark pool trading at his first Bitcoin exchange, Tradehill, which operated during Bitcoin’s infancy (2011-13).
TradeZero claims to be a global platform which already allows commission-free stock and ETF trading, as well as the ability to trade equity and index options.
“As larger mainstream investors wish to diversify from the stock market during this time of heightened global uncertainty and high P/E ratios, TradeZero will allow for making of sizeable trades without raising the market price or alerting others to their positions. I’ve been bullish on Bitcoin since it was two cents and this platform is another great enabler in letting institutional and individual investors alike trade in Bitcoin without market depth risk.”
What is TradeZero?
TradeZero Digital Currency also claims to be a safe way to buy or sell Bitcoins, securing each transaction through multi-signature technology using market leader Bitgo, a company that insures and securely stores digital currency.
Daniel Pipitone, Director of TradeZero, says:
“We are looking to provide the non-US investor with the same access, tools and discounted commission structure that many US traders enjoy today. Digital Currency enables safe and secure trading in digital currency markets like Bitcoin. Clients get access to commission-free dark pool digital currency trading, allowing them to make large purchases or sales without substantially moving the market price. This is a unique opportunity and will appeal to those who are serious about trading or building a portfolio with digital currency.”
In addition, TradeZero clients can send both national (fiat) and digital currencies to each other directly, with digital currency transfers made at no cost. Around-the-clock email and web chat support is also provided.
There is currently a minimum opening balance of $10,000 USD or equivalent currency. Digital currencies such as Bitcoin (BTC) are accepted. Qualified client accounts are activated on a first-come, first-served basis.