Nassau, Bahamas-based and Securities Commission of the Bahamas-registered online broker dealer TradeZero has partnered with bitcoin serial entrepreneur Jered Kenna to create the world’s first “dark pool” exchange for bitcoin and eventually other digital currencies.
Dark pools, which refer to off-exchange trading between two parties, make up over 40 percent of the volume of stocks being traded on a given day. One of the original pioneers of bitcoin mining and trading, Kenna also pioneered the dark pool trading concept at his, and U.S.’s, first bitcoin exchange called Tradehill, which operated during 2011-13, a period of bitcoin’s infancy.
A global platform, TradeZero already allows commission-free ETF and stock trading, as well as the ability to trade equity and index options.
“We are looking to provide the non US investor with the same access, tools and discounted commission structure that many US traders enjoy today,” said Daniel Pipitone, director of TradeZero, Inc., in a press release sent to CoinReport.
TradeZero: Digital Currency allows safe and secure trading in cryptocurrency markets like bitcoin, said the press release. Clients get access to commission-free dark pool cryptocurrency trading, acquiring the ability to make large purchases or sales without substantially moving the market price, stated the release, further adding that this is a unique opportunity and will appeal to those who are serious about trading or building a portfolio with cryptocurrency.
“As larger mainstream investors wish to diversify from the stock market during this time of heightened global uncertainty and high P/E ratios, TradeZero will allow for making of sizeable trades without raising market price or alerting others to their positions,” noted Kenna. “I’ve been bullish on bitcoin since it was two cents and this platform is another great enabler in letting institutional and individual investors alike trade in bitcoin without market depth risk.”
TradeZero Digital Currency secures each transaction through multi-signature technology using BitGo. In addition to offering real-time price indexes, the broker dealer allows clients to send both national (fiat) and digital currencies to each other directly, with digital currency transfers bearing no fee.
Currently, there is a minimum opening balance of $10,000 USD or equivalent currency. Cryptocurrencies such as bitcoin are accepted. Qualified client accounts are activated on a first-come, first-served basis.
TradeZero logo – Via press release
Jered Kenna’s photo – Via his LinkedIn profile