The recognized online brokerage TD Ameritrade informed they are monitoring the cryptocurrency market and considering additional opportunities going forward. Surprisingly, these comments were related to a question regarding whether they would add support to new cryptocurrencies such as XRP.
TD Ameritrade Monitors The Crypto Market
The cryptocurrency market has been expanding in the last few years and a large number of digital assets have been released. Although Bitcoin (BTC) is the most popular digital asset, there are other cryptocurrencies that are offering services to both individuals and companies all around the world.
XRP has been growing as a cryptocurrency for companies and users to reduce costs and transaction times when sending and receiving cross border payments. By using the XRP digital asset it is possible to easily make a transfer from one country to another in just a few seconds, indeed, almost immediately.
The XRP cryptocurrency can be used by large companies as well to source liquidity on demand. This is certainly positive because it reduces the costs of certain firms that need to make transfers between illiquid fiat corridors.
TD Ameritrade is currently offering Bitcoin Futures support on the Chicago Mercantile Exchange (CME) but they are still not offering other digital assets. Although the question received on Twitter by TD Ameritrade mentioned the XRP cryptocurrency, the answer was broader and didn’t specifically mention any cryptocurrency.
The Tweet reads as follows:
“Thank you for your interest! Currently, we offer Bitcoin Futures on the CME. We will continue to monitor the market and consider additional opportunities going forward.”
Thank you for your interest! Currently, we offer Bitcoin Futures on the CME. We will continue to monitor the market and consider additional opportunities going forward. ^ZB
— TD Ameritrade (@TDAmeritrade) December 29, 2019
Earlier in December, TD Ameritrade had also mentioned they were exploring the XRP space and that their team was working so add support to new assets in the market. Nevertheless, they didn’t provide any specific information about dates.
Back in November, TD Ameritrade was purchased by Charles Schwab becoming the first financial services company that is now offering services to clients related to the cryptocurrency market. They are now offering Bitcoin futures that were launched in both at the Chicago Board Options Exchange (CBOE) and the CME in 2017. In the future, new solutions and cryptocurrencies could be added to their offerings, however, it is certainly important for the company to be 100% compliant with local and international regulations.