Neobrokerage company Public.com deploys crypto trading tools
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.
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