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Charles Schwab Eyes Spot Crypto Trading Once Regulations Change

LivemintLivemint · 11m ago
Charles Schwab Eyes Spot Crypto Trading Once Regulations Change
Medial

Charles Schwab's incoming CEO, Rick Wurster, has revealed the firm's plans to offer spot cryptocurrency trading once US regulations become more favorable, which is anticipated to happen under President-elect Donald Trump's administration. Schwab already offers crypto-linked ETFs and futures, but Wurster believes that the regulatory landscape will change, leading to a potential for spot crypto trading. The competition for retail investors' dollars has intensified during the pandemic and after the US presidential election, with Schwab facing challenges from Robinhood and Webull, among others. Wurster also mentioned the significant impact of artificial intelligence on the wealth-management business.

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Equity management platform Qapita raises $26.5 Mn in Series B round

EntrackrEntrackr · 18d ago
Equity management platform Qapita raises $26.5 Mn in Series B round
Medial

Equity management platform Qapita raises $26.5 Mn in Series B round Singapore-based equity management platform Qapita has raised $26.5 million in its Series B funding round led by US-based Charles Schwab Corporation, with participation from existing investors Citi and MassMutual Ventures. Earlier in October 2021, Qapita raised $15 million from East Ventures (Growth Fund) and Vulcan Capital and others. It has raised nearly $50 million to date. The proceeds will be used to help Qapita expand into the US market and launch its fund administration product across multiple regions. Qapita also plans a strategic collaboration with Charles Schwab on Schwab Private Issuer Equity Services powered by Qapita. Founded by Ravi Ravulaparthi (CEO), Lakshman Gupta (COO), and Vamsee Mohan (CTO), Qapita’s platform provides equity management solutions for private companies in India, Southeast Asia, and the US. It helps manage ownership records, employee stock plans, and investor reporting requirements. The platform also supports secondary transactions and liquidity programs, allowing participants to access value from their ownership. Qapita has offices in Singapore, India, Indonesia, and the US. Its goal is to digitize private market ownership and simplify management for companies and investors. The company has been supported by reputed global investors, including Cercano, East Ventures, MassMutual Ventures, Endiya Partners, Citi, Nyca Partners, and Analog Capital.

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