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First Licensed Digital Currency Broker-Dealer

The former bitcoin trading division of SecondMarket, has relaunched under the new name Genesis Trading in bid to become “the partner of choice for large institutional buyers and sellers” in digital currency trading, while creating an identity of its own from this specification. Genesis Trading, which claims to be the first fully licensed digital currency-centric broker-dealer in the US, has executed trades for more than 800,000 bitcoins since 2013.

“We have been working toward this launch for a long time and this is a very exciting day for our entire team,” said Brendan M. O’Connor, CEO of Genesis Trading, adding: “Our goal is to become the partner of choice for large institutional buyers and sellers who are beginning to recognize the economic potential of digital currency.”

Talking to the Financial Times, O’Connor said that the idea was to capture large hedge funds and private investors that have shown interest in bitcoin trading.

(Via The CoinTelegraph)

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