In yet another significant development that is expected to boost adoption of cryptocurrency in the US, a major trading platform TD Ameritrade has announced that it is going to provide support for the cryptocurrency trading. This is expected to have a significant impact on cryptocurrency trading and comes as a boost for Bitcoin and other altcoins which are struggling with the problem of scalability to remain relevant among investors. According to the information, TD Ameritrade has struck an agreement with the ErisX which is going to provide it capability for supporting digital currency on its trading platform.
According to the official press release of the TD Ameritrade, the company has tied with ErisX to develop a host of services related to cryptocurrency trading on its platform. This is a demonstration that TD Ameritrade is always inclined to support innovation and ready to walk an extra mile to have innovative products and services in its portfolio. The company is confident that with this new inclusion in its constellation of products and services, it is going to get more loyalty from its customers and able to attract new investors to its fold.
Experts in the Crypto industry believe that this announcement will have a very positive impact on the overall adoption of cryptocurrency among investors and will boost the image of digital coins as a solid and sustainable asset of investment. This new facility will be operational as soon as ErisX is done with product development and get the approval from regulatory authorities in this regard. In the larger context, this development is important as it has taken place in the US, where authorities are not very friendly with the adoption of cryptocurrency. Many countries including China, India, and the US have a very hostile attitude towards digital coins as these nations see cryptocurrencies as a threat to their own national currencies. In India, Reserve Bank of India, country’s central bank, has already barred banks and financial institutions from dealing with crypto businesses. Most of the cryptocurrency exchanges in the country are struggling with many of them have already shut the shop in the absence of any visible relief in the foreseeable future. The situation in China is no different, as regulatory authorities are quite hostile to the idea of digital coins. Even the businesses related to blockchain are heavily regulated and facing close government scrutiny and interference in their daily operations. Still, this new announcement is a welcome move and expected to have a positive impact on the crypto industry.