The US subsidiary of crypto exchange FTX expanded its range of services offering its American customers the opportunity to trade stocks and Exchange-Traded Funds (ETFs).
- FTX US’s President – Brett Harrison – disclosed that the offering will be available to citizens of all 50 states, including Puerto Rico and the United States Virgin Islands.
- Buying and selling stocks of leading companies such as Apple (AAPL), Tesla (TSLA), and Amazon (AMZN), as well as trading ETFs, is possible both on the company’s website and on its mobile application.
- FTX US launched an initial form of the service two months ago. Up until now, though, the option was available only for selected customers.
- In June this year, Harrison outlined his company’s long-term goal to become an all-in-one investment platform. Apart from introducing stock trading services, it aims to offer the first real-time 24/7 margin for futures to American users:
“For most clearinghouses today, margin is done once per day, five days per week. We’re proposing to do this real-time, every 30 seconds, 24/7, and that is a novel aspect of our application.”
- The US affiliate of FTX is among the fastest-growing exchanges globally. At the beginning of 2022, it secured a $400 million fundraiser led by Japan’s SoftBank Group Corp. and Singapore’s Temasek Holdings. The financing boosted the firm’s valuation to $8 billion.