FTX, one of the major digital currency spot and derivatives exchanges, is now entering the space of equity markets with the launch of tokenized equity trading. The crypto exchange will be now offering tokenized stock trading along with cryptocurrency trading on its platform. Users now will be able to trade the most famous stocks of the world on FTX’s trading platform.
FTX partners with Digital Assets AG and CM-Equity for this offering
As per an announcement made on Thursday, the derivatives exchange has teamed up with two firms Digital Assets AG (DAAG), a tokenization solution providing firm based in Switzerland, and CM-Equity, a financial services company based in Germany that specializes in asset management. FTX is going to offer equity trading through these two firms.
The product is expected to go live in the next week, according to the announcement. As soon as FTX rolls out equity trading, users will be able to purchase fractions of shares of the world’s famous US stocks such as Apple (APPL), Tesla (TSLA), and Amazon (AMZN). There are more than twelve equity and digital currency trading pairs that will be available to users for trading. Users can trade these tokenized forms of stocks against digital assets such as Bitcoin (BTC) and stablecoins.
Commenting on this offering, the Chief Executive Officer (CEO) and Founder of FTX, Sam Bankman-Fried said:
“These fractional stock products reflect the reality that today’s traders are industry and sector spanning and want trading opportunities that fully match their interests and mindset.”
Registrations are opened for users
Registrations have already been opened by the FTX exchange following the announcement which means users can now register for this offering if they want to trade with these popular fractional stocks. It is also important to highlight here that the exchange has not made available its new equity trading offering to the residents of the United States and some of its other restricted countries, reportedly.
Following this news, the native token of the FTX exchange FTX Token (FTT) surged high. Currently, the price of FTT is up over 4 percent in the last 24 hours while trading at $3.93.