The search engine giant ‘Yahoo’ known as the world’s sixth most popular website recently come up with an update to offers services related to cryptocurrency trading. As per reports, the web service provider has launched a service that allows all its readers to trade different cryptocurrency tokens such as Bitcoin, Ethereum etc directly through its platform.
The website which according to Alexa holds the position of the sixth most visited website globally, last week announced its collaboration with financial API developer Trade It. The partnership is focused to help its users to do trading in different cryptocurrencies within the Yahoo Finance.
The user will now be able to see trading buttons – Buy and Sell every time when they will visit the cryptocurrency quote page. This new feature will appear on the Yahoo Finance’s stock trading option which the company launched last year to benefit traders. Users will be able to login into an external brokerage account such as Robinhood, Coinbase etc after initiating a trade. Without actually leaving the Yahoo Finance portal, users will be able to execute the buy or sell order.
Joanna Lambert, general manager of finance and tech at Oath, Yahoo’s parent company mentioned in a statement that “As the leading provider of financial data, insights, and editorial content, we are constantly looking for ways to better serve audiences on the Yahoo Finance platform”. He further said “We first launched our integration with ‘Trade It’ one year ago, allowing people to trade on Yahoo Finance for the first time ever. We’re excited to expand this offering to cryptocurrencies, further connecting our passionate community of investors with relevant utilities on our trusted platform.”
Currently, the new trading feature focusing cryptocurrencies is available only on the Yahoo Finance mobile iOS app on the app store that currently ranks at the 60th position in the finance category. Tough, some of the users mentioning that they initially saw the features on the mobile web versions as well on the desktop version of Yahoo Finance which disappeared on the next day.
Regarding the short exhibit of the feature, one of the representatives from Oath updated CCN that ahead of a formal launch the platform was running a bucket tests to check some of the features which were the major cause behind some of the features disappearing in a short period of time. As per representative, the new features will be stable on the platform in the next coming weeks.
Additionally, a joint venture agreement named as ‘Yahoo Japan’ framed after the collaboration between Softbank and Yahoo earlier this year announced that it will purchase a 40% stake in the local cryptocurrency exchange.