FTX.us, the exchange’s US subsidiary, now permits US customers to buy in equities through its website. While other stock market participants have progressively added digital assets to their portfolios, FTX is doing the reverse. In any event, this approach allows consumers to benefit from increased asset diversification. Despite the substantial link between the equity and cryptocurrency markets.
FTX expands its offerings.
The CEO and founder of the FTX exchange, Sam Bankman-Fried, has never disguised it. The one who is now one of the world’s youngest billionaire has always aspired to intertwine the crypto realm with regular banking through his platform. As a result, the FTX exchange takes an additional step through this gateway!
Stablecoins, which have been widely criticized since the collapse of the Terra ecosystem, will serve as a bridge between the stock market and cryptocurrency.
This new product, dubbed simply FTX Stocks, will initially be offered solely to US users via the FTX US mobile app. Several hundred shares of American firms and dozens of ETFs are now available to exchange consumers. This new implementation distinguishes FTX from direct rivals such as Binance and Coinbase, which do not (yet) provide such items.
This inclusion is particularly noteworthy from the standpoint of costs, in addition to portfolio diversity. Because FTX plans to make its new service available to people at no cost.
Should FTX be concerned about regulation?
Last year, the Binance platform sought and failed to gain traction with the regulator. Indeed, in response to regulatory pressure, the world leader in centralized exchange has ceased providing its tokenized assets. Securities that increased the share price of American behemoths such as Apple and Tesla. If water has since gone under the bridges, FTX may find itself presented with a new sling.
In any case, Sam Bankman-Fried and his management team are continuing to implement their goal of diversifying outside traditional finance and the crypto realm. Following an investment in the American stock exchange IEX, the platform has continued to grow. This time, an internal solution was used.