FTX US introduced on Thursday that the agency has launched an equities buying and selling platform known as FTX Shares which is able to give U.S.-based prospects the power to buy shares and exchange-traded funds (ETFs). The launch is presently in a personal beta section for choose U.S. prospects and equities could be bought with fiat-backed stablecoins.
FTX US Launches Beta Equities Buying and selling Platform
FTX US prospects phased in by the agency’s non-public beta waitlist can now leverage the platform to buy shares and ETFs. The corporate says the brand new characteristic presents tons of of choose U.S.-exchange-listed frequent shares, securities, and ETFs.
Moreover, FTX will initially route the equities buying and selling platform orders by Nasdaq. The corporate additionally famous that choose securities will likely be provided by way of fractional share buying and selling. Customers may also buy the shares, securities, and ETFs by utilizing a stablecoin comparable to USDC, bank card, wire switch or ACH switch.
“Our aim is to supply a holistic investing service for our prospects throughout all asset lessons,” FTX US president Brett Harrison mentioned in a press release. “With the launch of FTX Shares, we’ve got created a single built-in platform for retail buyers to simply commerce crypto, NFTs, and conventional inventory choices by a clear and intuitive consumer interface.”
The corporate will now be competing with the likes of Robinhood, a monetary providers firm that additionally supplies prospects with cryptocurrencies, shares, and ETFs. Very like FTX US not too long ago including inventory buying choices, Robinhood has not too long ago rolled out crypto asset providers this 12 months. The most recent FTX Shares characteristic from the corporate additionally follows the FTX founder Sam Bankman-Fried buying shut to eight% of Robinhood shares.
One other similarity to Robinhood is the actual fact FTX US says no charges will likely be taken from authorized brokerage accounts. “FTX Shares will supply its prospects no-fee brokerage accounts, commission-less buying and selling, and free-market information and firm basic information,” the corporate’s announcement on Thursday notes. “The corporate additional selected to eradicate minimal required buyer balances and tiered account programs frequent amongst retail inventory buying and selling platforms.”
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