Wealthsimple, a financial service company in Canada, will be enabling its customers to trade the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), right from its trading application. The development will probably usher-in more investors into the Canadian cryptocurrency market, following its number of users.
Wealthsimple launches Bitcoin and Ethereum trading
According to the report on Tuesday, the Canadian online investment management service noted that the Bitcoin and Ethereum trading would be supported on its trading app later on July 14. This would enable its numerous customers to be able to invest in cryptos conveniently from the platform.
Aside from the Bitcoin and Ethereum trading support today, the company reportedly allows its customers to invest in underlying assets in the traditional stock market. With over one million users, Wealthsimple manages more than $5 billion in assets. Meanwhile, the company’s primary focus on millennials.
More adoption for cryptocurrencies
Thus, it mentioned that the expansion of its financial services was logical, and would translate more participation for both the Bitcoin and Ethereum market. Traditional asset investors on Wealthsimple can now be able to hold the two largest cryptocurrencies on their portfolio, similarly to holding traditional assets.
For a start, the Bitcoin and Ethereum trading on Wealthsimple Crypto services are available for Canadian users. It remains unclear whether the investment company would allow customers from other countries where it operates. At the moment, the company only operates in the United Kingdom, the United States, and Canada.
While the Bitcoin and Ethereum trading support is expected to launch later today, the company said the client looking to invest in the cryptocurrencies could join its waitlist. Upon launch, the cryptocurrency product would become the 5th financial service to be launched by the company.