Digital Asset Marketplace Apifiny Prime Granted FINRA Broker-Dealer License Approval – Finance Bitcoin News
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According to a press release from Apifiny Prime, the company has been granted a FINRA broker-dealer license. The press release states, “This is a major milestone for the company, and comes as we’ve been moving aggressively to establish ourselves as a major player in the digital asset space. The license will allow us to better serve our clients, as well as facilitate future capital-raising and partnerships.
Apifiny Prime is a digital asset marketplace that facilitates the exchange of cryptocurrencies and digital assets. The company has recently been given a green light by the US Security and Exchange Commission (SEC), which allows it to operate as a broker-dealer. The company is also able to offer services as an alternative trading system (ATS) and registered investment adviser (RIA). The SEC ruling means that the company is now cleared to operate as a fully regulated broker-dealer, which is now allowed to deal in digital assets like bitcoin.
Apifiny, the global trading and mining network for digital assets, announced Thursday that its subsidiary Apifiny Prime has received a broker-dealer license from the Financial Industry Regulatory Authority (FINRA). The company now joins the ranks of brokerage and exchange companies such as Coinbase, Etoro and Circle.
FINRA grants Apifiny Prime abroker-dealer license.
The main regulator of broker-dealers in the US, FINRA, has granted Apifiny Prime a license as a broker-dealer. The license allows Apifiny to place funds from retail investors and sell securities, cryptocurrencies, stocks and other types of financial products. Apifiny was founded in 2018 by Haohan Xu after he noticed inefficiencies in global bitcoin exchanges and said he exploited them by buying and selling bitcoins on different exchanges.
Haohan Xu mentioned in the FINRA filing that his firm has experienced significant growth, with monthly trading volume quadrupling between November 20 and March 21, to nearly $1.4 billion. Since its inception, the company has expanded to five continents and 12 countries.
Apifiny works with 24 exchange partners to ensure that global cryptocurrency exchanges are not inefficient. Ten of those two dozen are new and include leading exchange platforms like Hbtc, Huobi, Ascendex and Crypto.com.
As we accelerate our product development, partnering, recruiting and overall growth in preparation for our IPO, obtaining this prime broker license is an important milestone, Haohan Xu said of the FINRA broker license approval.
Haohan Xu added:
With this new license, we can better serve innovative crypto startups looking for capital. This confirms once again that we are well positioned to take advantage of the huge opportunities in the global market for digital assets. The FINRA license granted to Apifiny is also a testament to the strength of our internal controls and compliance.
ApifinyBitcoin Hashrate Token
Last February, Apifiny’s founder told financial columnist Nate DiCamillo that the company plans to go public in late 2021. The 22nd. In April, Apifiny subsidiary Hash Hive launched the Hash Hive Standard Hashrate token, also known as BTCHV. The token is a durable, compliant and standardized token supported by a bitcoin hashtag, Apifiny BTCHV explained in a recent summary.
A large number of companies have gotten into bitcoin mining, and Apifiny said his company got into bitcoin mining to accelerate the growth of its global trading platform.
The company believes the FINRA license will also expand Apifiny Prime’s capabilities as it offers a wide range of different options. Although the trading platform competes with rivals such as Gemini, Coinbase, Etoro and Circle, it will continue to use the company’s own distributed trading network (DTN).
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