On Thursday, Apifiny, a global digital asset trading and mining network, announced the company’s subsidiary Apifiny Prime has been granted a broker-dealer license from the Financial Industry Regulatory Authority (FINRA). The firm now joins the ranks of brokerage and exchange businesses like Coinbase, Etoro, and Circle.
FINRA Grants Apifiny Prime a Broker-Dealer License
The leading regulator that oversees American broker-dealers, FINRA has granted a broker-dealer license to Apifiny Prime. The license allows Apifiny to make private investor placements and vend securities, cryptocurrencies, stocks, and other types of financial products. Apifiny was founded by Haohan Xu in 2018 after he saw inefficiencies across global bitcoin exchanges, and said that he “took advantage of this by buying and selling bitcoin across different exchanges.”
Haohan Xu detailed in the company announcement concerning the FINRA approval, that his firm has grown significantly and saw a “4x increase in monthly trading volume from November ‘20 through March ‘21, reaching nearly $1.4B.” Since the company