NEW YORK (Reuters) — According to a source familiar with the matter, Citadel Securities (NASDAQ:) Inc and Virtu Financial (NASDAQ;) Inc have joined forces to create a crypto trading ecosystem that allows retail brokerages to sell cryptocurrency-executions.

According to a source, among the consortium behind this project are Paradigm and Sequoia Capital, venture capital companies, as well as some retail brokerages.

Sources said that the project, first reported by CoinDesk in January, was still early in development.

Bloomberg reports that the companies were working with Fidelity Investments to develop a cryptocurrency offering. Charles Schwab (NYSE:) Corp which would expand access to digital assets. Citing people who are familiar with the subject.

Schwab said Tuesday to Reuters that it had made a minor strategic investment in a venture for digital assets.

Schwab released a statement saying that he recognized the interest shown in crypto-currencies and would consider opening direct access once there are more regulations in place.

Bloomberg reported that the product was still in early stages of development. It could launch late this year or very early next year.