(Bloomberg) – The Ken Griffin market giant, Citadel Securities, seeks to become a supplier of liquidity for cryptocurrencies, the president of the industry by President Donald Trump will be a boom in the asset class.
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It is a clear pivot of the prior position of the company on the creation of the cryptography market. Citadel Securities had a limited presence in the trade in cryptography, having avoided the exchanges frequented by retail investors due to a lack of regulations around the United States.
The company aims to add to the list of market manufacturers on various exchanges, including those managed by Coinbase Global Inc., Binance Holdings and Crypto.com, according to people familiar with the problem.
Once the company is approved on exchanges, it initially plans to create market teams outside the United States, people said, asking not to be identified as the plans are not public. The extent of the push and the desire of the citadel could change according to the way or the deployment of new regulations in the coming months.
Citadel Securities, based in Miami, had no immediate comments.
Until now, Citadel Securities has remained on the main cryptography places frequented by retail traders. After the collapse of the FTX of Sam Bankman in 2022, Crypto’s exchanges aroused criticism for a failure to separate businesses – including custody, marketing and trade – which can lead to conflicts of interest and manipulation of funds.
To create a certain certainty and serve institutional customers, Citadel Securities has teamed up with brokerage companies, including Charles Schwab and Fidelity Investments, to form an exchange of crypto-institution only which reflects the way in which the assets are held and installed in stock and in bond markets. This place, Edx Markets, was put online in 2023 and offers the trade in cryptographic products only for institutional investors.
Citadel titles and other financial companies have put pressure on the regulators to establish rules concerning investment in digital assets, creating a roadmap for institutions. If the United States does, the company wants to be ready to provide liquidity, to buy and sell digital assets as they do in other asset courses such as actions and fixed income securities, have declared people.
“Capital of Crypto”
The financial sector is preparing for more activity in digital assets under the Trump administration.
