Financial services firm Wedbush Securities has made an undisclosed investment in Bitcoin trading engine, Buttercoin.
In addition to the investment, Wedbush is utilizing Buttercoin’s technology and capabilities.
Sheri Kaiserman, Head of Equities, Wedbush Securities, commented:
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.
Buttercoin is a high-volume digital trading engine that has previously received $1.3 Million in funding from backers that include Google Ventures, Y Combinator, and reddit co-founder Alexis Ohanian.
Wedbush is a financial pioneer in the cryptocurrency space when it became one of the first financial institution sto publish on Bitcoin and surrounding cryptocurrency technology sector and began accepting Bitcoin payments for this research. By joining with Buttercoin, the firm looks forward to expanding its presence in digital currency and broadening its capabilities within the Bitcoin marketplace.
Gil Luria, Wedbush Securities’ Managing Director, has published research reports including “Bitcoin: Intrinsic Value as Conduit for Disruptive Payment Network Technology” (December 1, 2013), “Digitizing Trust: Leveraging the Bitcoin Protocol Beyond the Coin” (January 2, 2014), “Watch the Innovation, Not the Price.” (February 18, 2014), “Timing and Sizing the Era of Bitcoin” (May 27, 2014) and “Embracing Volatility – Trading as Bitcoin’s First Killer App” (August 2014).