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Crypto Exchange FTX.US Opens Stock Trading To All States

Published 28/07/2022, 05:38
© Reuters. Crypto Exchange FTX.US Opens Stock Trading To All States
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Cryptocurrency exchange FTX.US has opened its stock trading platform to users across all U.S. states.

What Happened: Brett Harrison, president of FTX.US, announced the nationwide rollout of FTX Stocks in a tweet on Wednesday.

The exchange has listed hundreds of stocks that are immediately available for trading, including Tesla Inc (NASDAQ: TSLA), Microsoft Corporation (NASDAQ: NASDAQ:MSFT), and Apple Inc (NASDAQ: NASDAQ:AAPL).

FTX.US began testing the stock trading platform in a pilot program for select users in May, without disclosing when it would expand to include more states.

The platform will employ a zero-commission business model, offering customers no-fee brokerage accounts and commission-free trading.

Earlier this year, Harrison told CNBC that FTX Stocks would be more of a customer acquisition play than a money-making venture.

“To start, this isn’t going to be a profitable endeavor for us. Our goal is to be able to add this additional service for our customers to help bolster our existing business,” said Harrison at the time.

FTX.US is the U.S. affiliate of Sam Bankman-Fried-owned FTX. The platform primarily lets U.S-based users trade cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE).

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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