FTX Launches Bitcoin Pairs Against Amazon, Apple Tokenized Stocks
Crypto derivatives exchange FTX has launched a novel way to trade the world’s most popular stocks.
Announced Thursday, users of the exchange are now able to register to trade on over 12 equity and cryptocurrency pairs via the platform’s fractional stocks offering in what FTX is calling a “first of its kind” product.
The additions mean users can begin trading high demand stocks like Tesla, Apple, and Amazon, represented by tokens, against bitcoin, stablecoins, and more.
“These products demonstrate a powerful future, in which assets are digitized and traders have unlimited creative potential to express their beliefs about the markets,” FTX CEO Sam Bankman-Fried said.
To facilitate liquidity, the tokens represent a fraction of one share, meaning traders will be able to trade half of a share at a time if they want, Bankman-Fried told CoinDesk via Telegram.
The offering is being conducted in partnership with capital markets solutions provider Digital Assets AG and investment firm CM Equity.
“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,” the CEO said.
Traders in the U.S. and FTX’s other restricted jurisdictions will not be eligible to trade the products.
Also on Thursday, FTX announced the release of TixWix – a product targeting retail customers in the world of options trading – in partnership with blockchain gaming platform HXRO.
