Apex Clearing, a leader in digital wealth management, will be offering its clients the ability to service the demand for crypto assets among millennials and others who want to invest in digital currency as well as brokerage assets. This new service – via Apex Crypto, a separate entity – is expected to be available starting in the fourth quarter of 2018.
Broker-dealers and other online investing platforms working with Apex Clearing will be able to offer access to crypto investing with a client experience that we believe is unmatched in the industry. While the assets will be held separately from a legal and regulatory standpoint, the processes of opening accounts and making transfers between the entities will be significantly simplified and is being designed to provide the end-investor with a convenient and seamless experience.
“Demand continues to surge for crypto, and Apex is meeting the needs of tech savvy investors by providing the seamless investing experience they want and expect,” said Bill Capuzzi, CEO of Apex Clearing. “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 Crypto will offer a robust range of coins, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin, among others, and plan to add additional currencies based on retail demand. Through Apex Crypto’s proprietary technology, investors will also have access to quotes and market data with transparent pricing and unique statements and confirmations for their digital currency holdings.
Cryptocurrencies have become an increasingly popular asset class for new investors. Bitcoin, the most popular of more than 1,600 available currencies, holds a value of about $100 billion in current circulation. Until now, the process to invest in both brokerage assets and crypto has been disjointed; the launch of Apex Crypto seeks to make it frictionless for the investors served by Apex Clearing clients.
PEAK6 Investments L.P., which owns both Apex Clearing and Apex Crypto, invests in and operates financial, technology, and consumer businesses. PEAK6 has an established track record of successfully leading transformations where its combination of capital and operating expertise can accelerate business growth. PEAK6 has a deep history in fintech, including building OptionsHouse which was sold to General Atlantic and later to E*TRADE.
Apex Clearing is a custody and clearing engine that’s powering the future of digital wealth management. As a clearing firm, Apex delivers speed, efficiency and flexibility to firms ranging from innovative start-ups to blue-chip brands that choose to grow with us. Apex’s fully-integrated, customized solutions allow registered investment advisors (RIAs), digital advisors, fintech firms, broker dealers and full-service firms to provide the seamless digital experiences consumers expect and to reach more investors and serve them profitably. Founded in 2012 and based in Dallas — with offices in New York City, Chicago and Portland, Oregon — Apex Clearing Corporation is registered with the SEC, a member of FINRA, and a participant in SIPC. For more information, visit www.apexclearing.com.