CMC Markets Adds Cardano and Solana to Its Crypto Offering

CMC Markets, the global leader in offering online brokerage business, has expanded the range of cryptocurrencies offering with the addition of the stable coins Cardano and Solana. This takes the broker's offering to a total of 18 major and alt coins, alongside three proprietary crypto indices.

"We're always keen to add new coins to meet customer demand and that's very much what drove the addition of these two instruments. However, our own internal processes, along with the need to custody and hedge these positions with tier one regulated entities does make the process of adding coins rather more challenging than we see in other asset classes," Richard Elston, Group Head of Institutional at CMC Markets Connect, explained.

The company noted it was seeing strong demand for digital assets amongst its worldwide audience of institutional counterparties, as well as interest from retail traders. Using a CFD gives banks and other brokers a highly efficient way of gaining exposure to cryptos, whilst doing so through a fully regulated counterparty.

Besides, CMC Markets Connect – the rebranded institutional division launched at the start of the year – continues to add to its tradable universe with a total of 12,000 FX pairs, indices, treasuries, commodities, single stocks, cryptos and ETFs now on offer.