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Jafrin Ahmed
Feb 12, 2022
by Jafrin Ahmed

FTX US to Launch Stock Trading Soon

FTX
FTX US, the American subsidiary of crypto exchange FTX has begun to accept users for a waitlist for its soon-to-be-launched stock trading platform, according to a tweet from CEO Brett Harrison.

The announcement doesn’t come as a surprise concerning the company has been focused on adding equities for a while now. Infact, just last month Harrison tweeted that FTX US was working on a stock trading service and was planning features for portfolio tracking performance, up-to-date price quotes, among other features.

The American affiliate is also eager to add derivatives trading, as crypto futures have propelled FTX's global arm to prominence.

Just last month, rival crypto exchange eToro announced it would offer stock and exchange-traded fund (ETF) trading to its U.S. customers. Similarly, BitStamp exchange too disclosed similar plans. Meanwhile, traditional stock trading apps such as Robinhood have been moving to offer crypto trading.

Last month, FTX US raised $400 million at an $8 billion valuation from investors which included Multicoin Capital, Paradigm, SoftBank and Temasek. The funding amount will be used to create new business ventures and explore strategic investments and acquisitions.

FTX US currently ranks in the top 20 exchanges for spot trading while the parent exchange FTX ranks third, according to CoinMarketCap.

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FTX US to Launch Stock Trading Soon
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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