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FTX US to Offer Stock Trading Soon

The crypto exchange has begun signing up users for a wait list for its upcoming stock platform.

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.

  • 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.
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  • 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.

Read more: FTX US Joins International Swaps and Derivatives Association

Nelson Wang

Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.

Nelson Wang