Users of the Public.com trading app will soon be able to trade with cryptocurrencies. Public.com, a rival to Robinhood and WeBull, said the platform will gradually be trading 10 digital assets (bitcoin, ether, cardano, dogecoin, litecoin, bitcoin cash, stellar, ethereum classic, dash, and zcash) over the next few weeks. said to provide the service. Prior to the cryptocurrency move, the company only allowed its customers to invest in stocks listed in the US.
Apex Crypto will provide execution and custody services for Public’s new crypto trading feature. However, “optimistic that crypto will soon be available to New York residents,” Public said that New Yorkers will not be able to trade digital assets on the app until Apex Crypto is licensed in the state.
Bitcoin has surpassed its $1 trillion market cap as investors try to hedge inflation with cryptocurrency. Dogecoin-like Shiba Inu surged more than 300% in a week thanks to Elon Musk’s post on Twitter. Public’s announcement came in the midst of this rise.
Public.com executive Stephen Sikes used the following statements in a statement on the subject:
“Cryptocurrencies have managed to attract the attention of a new generation of investors. We also think that the presence of cryptocurrencies for diversification in large portfolios is a valid rule at this time.”
Launched in September 2019, Public has a much more visible social aspect compared to rivals like Robinhood and WeBull. Although Public.com is not seen as a huge platform, we can say that it has come to the fore recently.