FTX US is expanding to equity trading and will offer users the possibility to fund their accounts with fiat-backed stablecoins. Previously on May 16th, FTX CEO, Sam Bankman-Fried questioned Bitcoin’s efficiency as a payment network.
cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform.on Thursday the upcoming launch of FTX Stocks, a stock trading service offered directly through the FTX US trading app.
The new stock trading platform will feature trading and investing in hundreds of U.S. exchange-listed shares, including common stocks and exchange-traded funds. According to the announcement, FTX Stocks will be the first platform to ever allow retail investors to fund their accounts with fiat-backed stablecoins like USD Coin . The option is enabled via a partnership with the FTX US crypto exchange, providing an alternative option to default deposit methods in the U.S. dollar, including wire transfers, credit card deposits and others.
The FTX Stocks platform will be initially available in a private beta phase for select U.S. customers chosen from a waitlist. The service will also initially route all orders through Nasdaq to ensure transparent trade execution and fair pricing, the announcement notes. “With the launch of FTX Stocks, we have created a single integrated platform for retail investors to easily trade crypto, NFTs and traditional stock offerings through a transparent and intuitive user interface,” FTX US president Brett Harrison said. He added that there is “clear market demand” for a new retail investment experience supporting “full order routing transparency” while not relying on payment for order flow.
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