The large US financial company Susquehanna International Group announced that it will provide access to bitcoin trading for 500 customers, after two years of processing similar transactions privately, New York Times reports.
We believe that this technology and this asset class is going to change some facet of financial services, and we think it is going to exist forever.
Head of the digital asset group, Susquehanna International Group,
Initially, Susquehanna will work with cryptocurrency futures, subsequently adding the possibility of buying / selling Bitcoin, Ethereum, Bitcoin Cash and other crypto coins.
The company already carries out transactions with bitcoin for millions of dollars, for which it formed a team of dozens of traders. For the first time with bitcoin Susquehanna operated in 2014, when the Winklewoss brothers, founded the Gemini exchange, and asked to support their bitcoin-ETF, whose registration they intended to negotiate with regulators.
Susquehanna was impressed by the success of bitcoin futures, launched in December last year by two American trading floors; so they decided to operate with cryptocurrency on public.
To provide cryptocurrency products to its customers, Susquehanna asked regulators to make changes to it's broker-dealer license, which will allow it to operate with digital assets qualifying as securities.
Smith also commented on the investigation conducted by the US authorities regarding possible manipulation of the cryptocurrency market. A representative of Susquehanna said that he did not notice any obvious evidence of manipulation, although his company works with unregulated cryptoexchanges, while recognizing that this market is still in its infancy and characterized by a lack of proper regulation.