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Crypto Exchange FTX.US Opens Stock Trading to Users Nationwide
Its president said the company won’t be charging trading fees or use a Robinhood-like payment for order flow business model.
FTX.US has opened stock trading to users in all 50 American states, company PresidentBrett Harrison said in a tweet Wednesday.
- The cryptocurrency exchange will now allow all users to trade hundreds of stocks and exchange-traded funds either online or through the FTX.US Pro mobile app, he added.
- The U.S. unit of the FTX exchange piloted the feature to a select group of customers in May, and said it would not charge fees or monetize trades in a way similar to Robinhood (HOOD), which has been criticized for its payment for order flow business model.
- In June, FTX.US acquired stock-clearing company Embed Financial Technologies to provide its application programming interface (API) and brokerage services to the platform.
Cam Thompson
Cam Thompson was a Web3 reporter at CoinDesk. She is a recent graduate of Tufts University, where she majored in Economics and Science & Technology Studies. As a student, she was marketing director of the Tufts Blockchain Club. She currently holds positions in BTC and ETH.
