Monex Group- the Japanese leader in conventional financial services from Japan, planning to offer crypto lending services with the help of its award-winning trading technology subsidiary firm TradeStation.
In a recent financial report for 1Q of the fiscal year ending March 31, 2021, the online brokerage firm while highlighting its revenue progress mentioned the upcoming launch of cryptocurrency lending service that would be powered by TradeStation.
Trade Station is a traditional multi-asset platform that runs on a robust, algorithm-based trading language which also provides technical analysis software, based out in Plantation, Florida, United States. The company was acquired by Monex Group, in 2011, and later, the brokerage firm also acquired Japan-based cryptocurrency exchange Coincheck in 2018.
The report highlighted some new initiatives by TradeStation Crypto that launched on May 15, 2019. TradeStation Crypto, Inc., a subsidiary of TradeStation Group, Inc., is a crypto brokerage platform for self-directed cryptocurrency traders. At present, the platform is supporting Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), and Ripple (XRP).
As per the information, TradeStation Crypto is launching a new lending service called CryptoEarn-C2B2B, by this month’s end.
Earlier, in July, TradeStation Crypto also launched a community crypto app for iOS and Android mobile users catering to 40 states in U.S. The platform also completed its web trading integration process.
In 2019, on the TradeStation Crypto launch, John Bartleman, President of TradeStation Group said, “Cryptocurrency trading has taken the spotlight over the past two years and it’s impossible to ignore. There many traders looking for a way into the crypto markets remain hesitant and are searching for a trusted, familiar brand to support them. That’s where we come in.”
On July 8, Monex listed cryptocurrency CFD contracts which claim to offer cryptocurrency contract-for-difference service (CFD contracts) with a leverage rate limit of 2x.
Earlier, in Dec 2018, TradeStation invested cryptocurrency exchange ErisX which caters both individual and institutional investors. ErisX founded in 2017 by Joe Lubin.