Crypto Liquidity: Citadel Securities Explores Services

Citadel Securities to Enter Crypto Market-Making on Major Exchanges

• Citadel Securities plans to provide liquidity in the crypto market, similar to its equities and fixed income operations.
• The firm targets major exchanges like Coinbase, Binance, and Crypto.com for its crypto market-making activities.
• Citadel Securities has historically been cautious about engaging in crypto due to US regulatory uncertainties.
• The firm anticipates increased industry activity following expected regulatory changes.
• In 2023, Citadel Securities partnered with Charles Schwab and Fidelity Investments to launch EDX Markets, an institutional-only crypto exchange.

Citadel Securities is preparing to enter the crypto market-making business by targeting major exchanges such as Coinbase, Binance, and Crypto.com. The firm aims to mirror its liquidity provision approach used in equities and fixed-income markets while anticipating increased activity due to potential regulatory changes.