Wedbush Securities has made further advances into the digital currency space, investing an undisclosed amount in bitcoin exchange Butttercoin. Through their new relationship, Wedbush will utilize the exchange’s technology and capabilities.
Buttercoin is a bitcoin exchange, yet to launch, that aims to make the bitcoin trading process smooth and simple. Said Sheri Kaiserman, Head of Equities at Wedbush Securities:
“We are impressed with Buttercoin in many regards notably that it provides reliable, trustworthy and excellent trade execution, and most importantly that it has a US banking relationship. We see cryptocurrency technology as disruptive to the financial services industry as the internet was to communications.”
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Los Angeles-based Wedbush is one of the first securities firms to devote attention to the cryptocurrency space, publishing multiple research reports on the topic during the past 12 months.
The investment is the second today to be announced by a mainstream financial services firm in the digital currency space. Spanish bank Bankinter announced an investment in Coinffeine, a p2p bitcoin exchange, also slated for future launch, and also for an undisclosed amount.
For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.