Wintermute Expands into Traditional Finance with US Broker-Dealer Registration

Crypto market maker Wintermute has expanded its operations into traditional financial services in the US. The firm's US arm, Wintermute USA LLC, has registered as a broker-dealer with both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This registration allows Wintermute to trade stocks and stock options on behalf of customers or on its own account.

The move is part of Wintermute's long-term strategy to position itself for the emerging tokenized securities landscape. According to Evgeny Gaevoy, founder and CEO of Wintermute, 'digital assets and traditional finance will continue to develop in parallel, intersect in new ways, and ultimately integrate more deeply.'

The registration as a broker-dealer also enables Wintermute USA to act as an authorized participant for exchange-traded products, including those tied to digital assets. This role involves facilitating the creation and redemption of ETFs.