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The Iboga plant has been used for tribal rituals in West Africa for millenia. While the highly toxic root causes days-long hallucinations, it may also be the answer to a problem plaguing modern society. Today, Iboga and its ingredient ibogaine are being closely studied as a potential cure for drug addiction.
Citadel Securities and Virtu Financial Inc. are building a cryptocurrency trading platform along with retail brokerages Fidelity Investments and Charles Schwab Corp.
The market makers are developing a crypto offering with help from Fidelity and Schwab that would increase access to digital assets, according to people familiar with the matter, who asked not to be identified discussing the private plans. The product, still in its early development, could be available late this year or early next, the people said.