The platform is aimed at retail investors and professional traders alike.
Trading Technologies, which creates trading software used across Wall Street, has launched a cryptocurrency trading platform aimed at retail investors.
The new product is a spin-off of its professional trading platform TT, which provides users access to futures and options, and recently added crypto capabilities. People familiar with the matter told Business Insider the retail product is in the soft-launch phase with just a few customers using it.
The point of the new product is to deliver a Wall Street trading experience to the every-day crypto trader, the people said. It's the first product by TT to target a retail clientele. It is currently being teased on TT's website:
"GDAX access for crypto-only traders will be available through TT later in 2018. You will receive details via email when they become available."
The platform provides users with the same automated trading features that can be found on its professional platform, which costs clients $400 a month. The crypto platform will be free for a certain amount of time to kick things off.
A number of non-crypto companies have jumped into the cryptocurrency market to capitalize on its breakneck growth.
Cboe Global Markets and CME Group launched bitcoin futures in December, which allow for the most part institutional investors to bet on the future price of the digital currency, and ICE, the parent company of the New York Stock Exchange, launched a crypto index for trading firms and hedge funds.
As for TT, this isn't the company's first move in crypto. The company recently announced it was teaming up with cryptocurrency exchange Coinbase to enable spot and bitcoin futures trading on its professional trading platform, Business Insider previously reported.