FTX US, a regulated crypto exchange and trading app for the US market, has announced the launch of its stocks trading platform FTX Stocks.
The trading app will offer access to crypto, NFTs, US-listed stocks and exchange-traded funds (ETFs),with customers accessing all the features on the FTX US cryptocurrency exchange and app.
FTX Stocks launches in private beta first
The launch is initially only available to a select group of waitlisted US customers in private beta. However, FTX US plans to expand the offering to all its customers in the country, the company said in a press release on Thursday.
FTX US President Brett Harrison commented:
Our goal is to offer a holistic investing service for our customers across all asset classes. With 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.
FTX Stocks users will fund their accounts via fiat-backed stablecoins, including USD Coin (USDC), alongside the traditional payment options of wire transfers, credit cards and ACH transfers.
For transparency in trade execution and to ensure fair pricing, the exchange has said all orders at this initial stage will be handled on Nasdaq. Trading is at zero commission.
The launch of FTX Stocks sees FTX US join Robinhood and Cash App (offered by Block), among other platforms, in offering both stocks and cryptocurrency trading via the same application.
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