Other Exchanges News
- FTX will grant access to a small number of its US-based clients.
- The FTX crypto trading is still in its beta phase.
- FTX is one of the first crypto-first companies to offer stocks trading.
On Thursday, May 19, FTX will grant access to a small number of its US-based clients, and these users will be able to trade stocks easily with no restrictions on the platform.
FTX is set to allow a small subset of users to access its crypto trading beta feature. The product is still in its beta phase, but those chosen to test the product will be able to trade stocks and exchange-traded assets while also trading cryptocurrencies.
The company has also shared that it plans to make its stock trading product available to all US users within the next few months. Stocks trading is the first step of a long-term plan, and the app could offer other assets such as futures in the near future.
A question that may come to many people’s minds is why is FTX interested in entering the stock trading market, and why now? The move was expected, and when you consider that apps like Robinhood, Public.com, and Cash App have been able to combine stock and crypto trading, it makes a lot of sense for FTX to make this move.
Admittedly, FTX’s move is different because most other apps offering crypto and stock trading began with stocks and then expanded into the crypto ecosystem; FTX is one of the first crypto-first companies to offer stocks trading. The next few months will be exciting for FTX and its stock trading platform.
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