TradeInformer understands that Exness is planning on launching a crypto product, which involves physical crypto trading.
It is unclear when the product will launch or what it will look like. However, the firm is in the process of building out blockchain technology to support its functioning.
Exness already has some investments in the crypto space. The company was an early investor in Crossover Markets, an execution venue for financial institutions trading in crypto.
Despite seeing a huge drawdown following rate hikes at the end of 2021, crypto markets have seen something of a resurgence in 2024.
It’s difficult to say what the exact driver of this renewed enthusiasm is. However, it has coincided with a period in which several regulatory approvals in the US have been given for Bitcoin ETFs. In theory these should make the asset class easier to access for institutional investors, who often have concerns around various facets, like custody, of holding Bitcoin directly.