Cryptocurrency exchange FTX will soon enable traditional stock trading with its crypto products, the company said. press release (via The Wall Street Journal). This feature is currently available to some users in the United States, but we aim to roll it out to more traders in the coming months.
FTX states that it will offer fee-free trading with access to “hundreds of US-listed securities” including both common stock and ETFs. This will allow customers to add money to their account through credit card deposits, ACH transfers, and wire transfers. FTX also states that it is the first exchange to allow users to fund their accounts with flatback stablecoins such as USDC.Stablecoin prices are fixed to currencies and commodities, so they are not (theoretically) expected to fluctuate as much as other cryptocurrencies, but the recent decline in the crypto market as a whole is gone. Some stablecoins struggling..
FTX plans to route orders directly through the Nasdaq exchange. Order Flow Payment (PFOF) The method used by Robin Hood and other exchanges. PFOF includes brokerage firms that receive compensation for sending orders to market makers. Cause conflict of interest, Because the broker may want to send the order to a profit-increasing institution.Practice was scrutinized Following GameStop’s stock price surge It happened last year.
“The launch of FTX Stock has created a single integrated platform that allows individual investors to easily trade cryptocurrencies, NFTs, and traditional equity offerings through a transparent and intuitive user interface,” said FTX’s US. Brett Harrison, president, said in a statement.
Robin Hood, Block ownership Cash application, and Public.com It also allows users to trade stocks and cryptocurrencies — putting FTX into the mix, allowing them to compete directly with each platform. Earlier this month, FTX founder Sam Bankman-Fried said: Revealed that it has purchased a 7.6% stake in Robin Hood, Making him the third largest shareholder of the company. In Bankman-Fried’s 13D filing, he said he had no plans to buy the company at this time, WSJ This type of form is usually submitted by an investor who is considering buying more shares in the company or making an acquisition.
