FTX US to Offer Stock Trading Soon

FTX US has begun to accept users for a wait list to learn about its soon-to-be-launched stock trading platform, President Brett Harrison announced in a tweet on Friday.

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  • FTX US, the American subsidiary of crypto exchange FTX, specializes in the spot trading of cryptocurrency, but has been planning moves into other markets, including crypto derivatives through its acquisition of Ledger Holdings.
  • Last month, rival crypto exchange eToro announced it would offer stock and exchange-traded fund (ETF) trading to its U.S. customers, while BitStamp also disclosed plans to do so. Meanwhile, many primarily stock trading apps such as Robinhood have been moving to offer crypto trading.
  • Harrison tweeted in January that FTX.US was working actively on its stock trading service and teased some features it hoped to offer.

Last month, FTX US raised $400 million at an $8 billion valuation from investors, including Multicoin Capital, Paradigm, SoftBank and Temasek. It intends to use the funds to create new business lines and explore strategic investments and acquisitions.

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