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Finance

FTX US to Offer Stock Trading Soon

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

By Nelson Wang
AccessTimeIconFeb 11, 2022 at 7:20 p.m. UTC
Updated May 11, 2023 at 7:12 p.m. UTC
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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

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Nelson Wang
    Nelson Wang

    Nelson Wang was CoinDesk's news editor for the East Coast. He holds BTC and ETH above CoinDesk's disclosure threshold of $1,000.

    Follow @NelWang on Twitter
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