The ability to trade traditional equities and Cryptocurrencies without any fees is now possible.Revolut, the London-based Digital Banking firm launched in 2015, has recently raised a further $350 million, valuing itself at $1.7 billion. It is now looking to offer commission-free dealing of over 350 equities in the USA, as it looks to lure millennials into trading stocks and shares. The intention is to offer the UK, European and worldwide shares at a later stage. The launch of Revolut’s share trading service follows on from it allowing its clients to trade up to 29 different Cryptocurrencies earlier this year.
Meanwhile, The Blockchain Company has just announced that, for the next 30 days, it will offer commission-free trading of 26 different cryptocurrencies with its newly launched exchange, called The Pit. The intention is to follow what most traditional exchanges do and to match prices of crypto-trades within microseconds. The Pit is building on the experience of Tom Haller, who was head of software development at the New York Stock Exchange.
Different exchanges promote themselves in various ways. For example, GlenBit, the UK-owned Crypto trading platform is offering clients up to 90% of any commissions generated from clients who are referred to GlenBit. The client who instructs trade earns the remaining 10%.
The one common aspect is that organizations in the traditional equity and crypto sectors are searching for ways to increase the number of clients they deal with and then cross-sell, offering other products once the clients are signed up.
