{"id":10931,"date":"2022-05-19T12:14:25","date_gmt":"2022-05-19T12:14:25","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/ftx-us-to-launch-stock-trading-against-stablecoins\/"},"modified":"2022-05-19T12:14:27","modified_gmt":"2022-05-19T12:14:27","slug":"ftx-us-to-launch-stock-trading-against-stablecoins","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/ftx-us-to-launch-stock-trading-against-stablecoins\/","title":{"rendered":"FTX US to launch stock trading against stablecoins"},"content":{"rendered":"
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Major <\/strong>cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform.<\/p>\n West Realm Shires Services, the owner and operator of FTX US, announced on May 19 the upcoming launch of FTX Stocks, a stock trading service offered directly through the FTX US trading app.<\/p>\n The new stock trading platform will feature trading and investing in hundreds of U.S. exchange-listed shares, including common stocks and exchange-traded funds.<\/p>\n According to the announcement, FTX Stocks will be the first platform to ever allow retail investors to fund their accounts with fiat-backed stablecoins like USD Coin (USDC). The option is enabled via a partnership with the FTX US crypto exchange, providing an alternative option to default deposit methods in the U.S. dollar, including wire transfers, credit card deposits and others.<\/p>\n The FTX Stocks platform will be initially available in a private beta phase for select U.S. customers chosen from a waitlist. The service will also initially route all orders through Nasdaq in order to ensure transparent trade execution and fair pricing, the announcement notes.<\/p>\n \u201cWith the launch of FTX Stocks, we have created a single integrated platform for retail investors to easily trade crypto, NFTs, and traditional stock offerings through a transparent and intuitive user interface,\u201d FTX US President Brett Harrison said. He added that there is \u201cclear market demand\u201d for a new retail investment experience supporting \u201cfull order routing transparency\u201d while not relying on payment for order flow.<\/p>\n Related: <\/em><\/strong>The Brazilian Stock Exchange will launch Bitcoin and Ethereum futures<\/em><\/strong><\/p>\n The news comes shortly after FTX founder and CEO Sam Bankman-Fried criticized the efficiency of Bitcoin (BTC) as a payment network on May 16. He specifically expressed concerns over the Bitcoin network\u2019s mining consensus, arguing that it\u2019s not scalable enough to process millions of transactions.<\/p>\n The CEO has also been actively buying shares of major players in the industry, holding about $650 million in the stock of the crypto-friendly stock trading app Robinhood as of May 2022.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Major cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform. West Realm Shires Services, the owner and operator of FTX US, announced on May 19 the upcoming launch of FTX Stocks, a stock trading service offered directly through the FTX US trading app. The […]<\/p>\n","protected":false},"author":1,"featured_media":10932,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-10931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\n