FTX launches tokenised equities to bridge gap between crypto and stocks

Cryptocurrency derivatives exchange FTX has launched tokenised equities in partnership with Digital Assets AG (DAAG) and CM Equity.

According to a press release shared with Coin Rivet, FTX users will now be able to access trading of more than a dozen equity and crypto pairs, including popular stocks like TSLA, AAPL and AMZN.

“Our traders have never seen crypto as a niche field,” said Sam Bankman-Fried, CEO of FTX. “These products demonstrate a powerful future, in which assets are digitised and traders have unlimited creative potential to express their beliefs about the markets.”

FTX’s fractional stock offering is being dubbed as the “first of its kind” with it being regulated in conjunction with the CM-Equity AG partnership.

“In just a couple short years, FTX has built a ‘by traders, for traders’ brand that is constantly looking to innovate ahead of the trading status quo,” said Michael Kott, CEO of CM-Equity AG. “In considering a first partner for our fractional stock offerings, they were the obvious choice.”

While 2020 has been a turbulent year from a political and economic perspective, stock markets have eclipsed new all-time highs as retail traders flock to platforms like Robinhood and Revolut

With this in mind, Bankman-Fried believes the new offering is the perfect addition to enhance the user experience for traders on FTX.

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

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