Bitcoin Exchange FTX US opens a waiting list for stock trading

In short

  • FTX US is currently a spot crypto trading platform.
  • In the coming months, it may also offer derivatives and equity trading.

Just when the general public was starting to realize that FTX is a cryptocurrency exchange, the company is changing things up.

FTX US today opened its waiting list for stock trading. Those who sign up will be the “first to know” the details of the platform, according to a tweet from CEO Brett Harrison.

The stock exchange has been hinting at adding stocks for some time. In January, Harrison tweeted that FTX US was “working hard on stocks” and planning features that would allow traders to track their portfolio’s performance, view up-to-date price quotes, and view company fundamentals on their screen.

After receiving $400 million in Series A funding and an $8 billion valuation later that month, Harrison said Decrypt“If someone wants to invest in crypto and stocks, but those services are in two different places, that means you have to transfer money from the traditional financial system to those different accounts or apps.”

The goal then is to look more like a crypto-heavy version of Robinhood than Coinbase. The US subsidiary is also eager to add derivatives trading, as crypto futures have propelled the global arm of FTX into the limelight. The company acquired LedgerX in August with the intention of adding Bitcoin and Ethereum futures and options to US customers within a year.

FTX US currently ranks in the top 20 exchanges for spot trading, according to CoinMarketCap’s exchange score, which takes into account traffic, liquidity, trading volume, and data reliability. FTX, the global exchange run by Sam Bankman-Fried, ranks third.

https://decrypt.co/92764/bitcoin-exchange-ftx-us-opens-waitlist-stock-trading

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