A new company seems to be entering the virtual currency space. The US brokerage TD Ameritrade is allegedly exploring the possibility to offer XRP to retail investors. The information was released by TD Ameritrade Network in a recent Tweet. Other virtual currencies could also be offered to 11 million investors.
TD Ameritrade Explores XRP
In a recent tweet, TD Ameritrade Network informed that they are exploring XRP. The team behind this company is working in order to make things happen as soon as possible. The tweet came in response to a question made by another Twitter user regarding the XRP asset.
On Twitter, the company wrote:
“Glad you’re enjoying our content. We’re still exploring the XRP space – stay tuned for more information. Our team is working hard to make things like this happen.”
Glad you’re enjoying our content! We’re still exploring the #XRP space – stay tuned for more information. Our team is working hard to make things like this happen.
— TD Ameritrade Network (@TDANetwork) December 11, 2018
However, this is not the first time that TD Ameritrade revealed its interest for virtual currencies. Back in October, the firm invested in ErisX, a crypto exchange for spot and futures trading. Back at that moment, the company informed that retail clients have a different approach to virtual currencies than traditional capital markets.
In general financial institutions tend to use more established platforms and services specifically designed for them. TD Ameritrade has around 11 million clients and it manages $1.2 trillion in assets.
The ErisX platform is going to provide futures contracts as well. Jessica Darmoni, spokeswoman of the firm said that some of the virtual currencies available will be Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). Another firm that is searching to provide services to institutions is the Intercontinental Exchange with its Bakkt platform.
There are many companies that are investing large sums of funds in blockchain technology and virtual currencies. XRP is the second largest cryptocurrency with a market capitalization of $12.63 billion. Additionally, banks and other financial institutions are working with different Ripple products that could eventually start using XRP for cross-border transactions. This would have a positive impact on the price of this digital asset.
Each XRP can be purchased for $0.28, according to CoinPaprika.
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