advertisement

Leading Crypto Exchange FTX Launches Tokenized Equities, Goes Live Next Week

valuation

Major crypto derivatives exchange FTX has partnered with two financial companies in Europe to launch tokenized equities. The European countries include German financial company CM-Equity AG and Swiss-based firm Digital Assets AG. 

CM Equity AG will be in charge of the traded equities. FTX traders interested in holding actual stock will gain access through the German company. The Block revealed that the product would be going live in the coming week. 

The product, which was launched on the 29th of October, will give FTX users access to trade on top stocks, including Amazon, Apple, and Tesla. 

However, a report by CryptoBriefing noted that some regions, including the US, would not have access to the newly launched product. 

In a Cointelegraph report, FTX CEO Sam Bankman-Fried said:

“Both crypto trading and equities trading have been steadily attracting a wider audience with new market participants coming in.”

FTX is the sixth-popular crypto exchange by trading volume. The exchange has about $1.5 billion trading volume, as revealed in the CryptoBriefing report. 

The newly-launched product will also grant retail traders fractional ownership, which allows them to make smaller deposits. The CEO added:

“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.”

Shortly after the launch, FTX opened registrations for users. 

Image Credits: Pixabay

Get Latest Cryptocurrency And Bitcoin News

Signup this form below to get latest Cryptocurrency and Bitcoin news, directly in your mailbox

Note:

Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.