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TradeStation Crypto, a subsidiary of TradeStation Group, on Thursday announced its decision to exit the spot cryptocurrency trading business, marking a notable shift in the company's focus and strategy in the digital asset space.
TradeStation, known for its electronic trading platform that caters to active traders and certain institutional investor markets, has been a significant player in the trading industry.
The company offers trading in stocks, futures, and options, and had expanded into cryptocurrency trading, aiming to provide a robust platform for crypto investors.
According to the announcement from TradeStation's Business Development Team, the company will immediately stop processing new account applications and customer deposits for its crypto division.
Furthermore, all trading and withdrawals in customer accounts at TradeStation Crypto will be permanently suspended at 5 p.m. ET on Feb. 22, 2024.
The decision to exit the spot cryptocurrency trading business is confined to TradeStation Crypto and does not affect TradeStation Securities.
TradeStation Securities will continue to support offerings of listed futures, stocks, exchange-traded products (such as ETFs and ETNs), and stock options in tradeable crypto-related instruments on regulated securities and futures exchanges.
The company recently expanded its trading offerings to include Aave (CRYPTO: AAVE), Compound (CRYPTO: COMP), Chainlink (CRYPTO: LINK), Polygon (CRYPTO: MATIC), Maker (CRYPTO: MKR), and Shiba Inu (CRYPTO: SHIB).
These cryptocurrencies joined the lineup of Bitcoin (CRYPTO: BTC), Bitcoin Cash (CRYPTO: BCH), Ethereum (CRYPTO: ETH), Litecoin (CRYPTO: LTC), and USD Coin (CRYPTO: USDC) on the platform.
These six additional tokens are now accessible for trading through TradeStation Crypto's web and mobile applications, as well as through its comprehensive range of APIs, which encompasses both REST and FIX APIs.
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Posted In: $AAVE $BCH $BTC $COMP $ETH $LINK $LTC $MATIC $MKR $SHIB $USDC
