Apex Clearing to Introduce Crypto Investment Subsidiary

Financial clearing and execution firm Apex Clearing established its plans to introduce a dedicated cryptocurrency entity.

This is according to a press release that was sent out by the company.

Apex, which has been operating since 2012, would create Apex Crypto to offer clients access to a number of cryptocurrencies, which at first would include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) among others.

Investing platforms such as broker dealers that are utilizing Apex would be able to provide cryptocurrency investment opportunities to their own users, the press release read.

The development, CEO Bill Capuzzi explained, is a reflection of the “continued surge” in demand for crypto-based investment options. Capuzzi said:

“We are helping our clients break down barriers to provide the speed, efficiency and flexibility they need to serve the next generation of investors.”

Apex Clearing plans to deliver Apex Crypto later this year, the announcement coming on the very same day Goldman Sachs announced it would shut down its own cryptocurrency product plans.

Quoting “people familiar” with the developments, Goldman Sachs had “come to the conclusion that many steps still need to be taken, most of them outside its control, before a regulated bank would be allowed to trade cryptocurrencies.”

Nonetheless, interest from investment sources in the crypto market remain, with investors keeping an eye out for the Intercontinental Exchange’s Bakkt platform, which is slated to debut later in the year.