The US arm of the cryptocurrency exchange FTX has opened trading in traditional stocks to a limited group of clients. This was disclosed by the company’s chief, Sam Bankman-Fried.
2) A small subset of customers who registered for the waitlist will get access today to test it out.
We’re planning to expand it to the whole platform over the next month.
— SBF (@SBF_FTX) May 19, 2022
“A small portion of customers registered on the waitlist will be granted access today to test the feature. We plan to expand the service to the entire platform over the next month,” he wrote.
Sam Bankman-Fried noted that the firm charges no commissions on stock trades and does not employ the practice of payment for order flow. He said the exchange would not generate revenue from the service at the outset.
In an interview with The Wall Street Journal, FTX.US president Brett Harrison said that in the future the platform will support trading derivatives such as futures.
Earlier, Kraken CEO Jesse Powell said that service for trading traditional stocks would be launched.