Cryptocurrency exchange FTX.US offers stock trading in all 50 U.S. States.
Company President Brett Harrison tweeted Wednesday, saying:
“Trade hundreds of stocks and ETFs from both the web (https://ftx.us/stocks) and the FTX US Pro mobile app.”
The FTX exchange will increase its presence in both the cryptocurrency ecosystem as well as mainstream stock markets by more than doubling its position.
According to the company, FTX is a new platform for trading stocks and ETFs. It aims to offer a complete trading application that covers all asset classes.
Clearing and custody are services that can be used for stock and option trading. To further explore the world of stock trading, the company bought Embed Financial Technologies Inc. (including its wholly-owned subsidiary Embed Clearing LLC) to establish a strong relationship with regulators for its new stock offering.
In May, the U.S. FTX exchange offered the feature to a small group of customers. It stated that it would not charge fees for trades or monetise them like they do. Robinhood (HOOD).
FTX and its US subsidiary FTX US have been active in the mergers and acquisitions (M&A) space over the past few years. The majority of acquisitions by the company have been focused on institutions that will further enhance its reputation as a leader in financial services and trade.
FTX, a crypto exchange with 32 billion users, is in talks to buy its competitor Bithumb. The deal is said to be in advanced stages, but financial terms remain unknown.
FTX purchased Blockfolio trading platform in 2020. This acquisition helped FTX gain more clients. FTX. U.S. bought LedgerX Futures Exchange. This exchange has multiple licenses issued by U.S. regulators.