Wintermute Expands into Traditional Finance with US Broker-Dealer Registration

Wintermute, a leading cryptocurrency market maker, has expanded its operations in the US by registering its affiliate Wintermute USA LLC as a broker-dealer. This move enables the firm to trade stocks and stock options, as well as act as an authorized participant for exchange-traded products tied to digital assets.

The registration with the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) is seen as a strategic step in positioning Wintermute for the emerging tokenized securities landscape. According to Evgeny Gaevoy, founder and CEO of Wintermute, 'digital asset markets will evolve in more than one direction' and traditional finance and digital assets will continue to develop in parallel.

As a broker-dealer, Wintermute USA can now assist in the trading of securities on behalf of customers or on its own account. Authorized participants are crucial for the creation and redemption process of exchange-traded products (ETFs), which include those tied to digital assets.