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Crypto Exchange FTX Enables Equity Trading

  • Crypto exchange FTX enables equity trading in its platform.
  • CM-Equity and DAAG partners with FTX for this service.
  • Moreover, Tesla, Amazon, Apple, and more can now be traded at the crypto exchange.

The crypto exchange FTX has announced the launch of equity trading into its platform. It enables FTX to let its users buy a fraction of shares from Tesla, Amazon, Apple, and many more.

This type of fractional trading allows users of the platform to buy less than one share of stock. As a result, traders can now buy and own high price stocks without buying the whole share of stocks.

The crypto exchange’s partnership with the German financial services, CM-Equity, and Switzerland-based tokenization provider Digital Asset AG (DAAG), made this feature possible. These licensed financial institutions offer products and brokerage services for tokenized stock trading.

FTX CEO Sam Bankman-Fried explained further that,

CM-Equity is a licensed entity and conducts compliance on all of the participating customers and trades. Tokens on them are then traded on FTX and are redeemable for the underlying stocks.

On the other hand, interested traders in the tokenized trading must pass the CM-Equity security. Hence, traders must secure approval from the CM-Equity’s KYC and compliance measure. If the trader passed the requirements, the trader can now fully enjoy FTX’s tokenized stock trading 24/7.

Moreover, crypto exchange FTX is not the first exchange platform to open its door to innovation in trading. BitMax recently integrates the HARD protocol on its platform. This marks the exchange’s first cross-chain DeFi money market.

CoinQuora Staff

CoinQuora is an online publication that aims to educate about news, exchanges, and markets in the cryptocurrency and blockchain industry

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