American financial clearing and execution company Apex Clearing and its crypto investment subsidiary Apex Crypto have launched a new trading platform for broker-dealers and financial advisors to help their clients trade crypto more effectively.
According to a June 27 press release announcing the new broker-integrated Apex Crypto platform, equity investors will be able to seamlessly open and fund new crypto trading accounts “within minutes” — rather than the purported weeks it would usually take clients to do so.
Founded in 2012, Apex Clearing is an SEC-registered and FINRA member digital wealth management firm owned by American financial services company PEAK6 Investments LLC.
As of today, over 5 million current Apex Clearing clients can thus access the Apex Crypto platform, which supports trading of four major cryptocurrencies: bitcoin (BTC), bitcoin cash (BCH), ether (ETH), and litecoin (LTC).
The press release places a strong emphasis on the new platform’s apparently high throughput and scalability, claiming that Apex’s systems enable the opening of tens of thousands of accounts within a single day, allowing traders to take advantage of surges in crypto trading volumes.
The platform leverages technology jointly provided by Apex Crypto and U.S.-based online discount broker-dealer and Apex Clearing client SogoTrade Inc.
Initially, Apex Crypto is being released for investors across 40 U.S. states and the District of Columbia — with additional states expected in future once regulatory approval has been sealed.
In a statement, Apex Clearing CEO has said that the clearinghouse seeks to “fundamentally change” the way investors and enterprises think about their finances, proposing that:
"Our integration with Apex Crypto helps financial firms give their clients a streamlined way to invest in a wider variety of asset classes in a way that feels part of – not separate from – the rest of their investment portfolio."
As Cointelegraph has previously reported, Apex Clearing first confirmed it planned to launch its Apex Crypto subsidiary last September, stating that the move was spurred by the continued surge in demand for crypto-based investment options.