SoftBank-backed brokerage plans to start trading cryptos - Bloomberg

Miami-based brokerage Avenue Securities is planning to start trading cryptocurrencies next month, Bloomberg reported Thursday. Founded in 2008, SoftBank-backed (OTCPK:SFTBY) (OTCPK:SFTBF) Avenue offers middle-class and wealthy Brazilians digital investments such as third-party funds in the U.S. It has $2B under custody, Bloomberg noted. “That is beyond a shadow of a doubt the project with the biggest demand from our clients,” Avenue Founder and CEO Roberto Lee told Bloomberg in an interview. “Our surveys show that about 15% of our almost 500,000 costumers will start trading cryptocurrencies on the first day we offer the service,” he added. The moves came after Brazilian-based Banco Bradesco (NYSE:BBD) (NYSE:BBDO) in December formed a partnership with fintech BCP Global to offer digital investments to wealthy residents in the country, Bloomberg explained. “Probably what we will see in 2022 is the arrival of big Brazilian competitors to our business, and we are going to answer that by