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Major cryptocurrency derivatives exchange, FTX, has begun trading “fractional stocks offerings” products that represent the shares of global firms.
The product was launched on October 29th in cooperation with German-licensed investment company CM-Equity and tokenization company Digital Assets AG.
More than 12 stock and cryptocurrency pairs are now available for trade on FTX, including Tesla (TSLA), Apple (APPL) and Amazon (AMZN) derivatives.
By fragmenting ownership, derivatives can be broken down into smaller scales than the entire unit, allowing retailers with less capital to invest in expensive stocks like Tesla.
Sam Bankman-Fried, CEO of FTX, explained that these products have a bright future. He further explained that assets are being digitized and retailers have unlimited creative potential to express their belief in the marketplace. With the addition of new entrants, both crypto trading and stock trading have attracted wider audiences. These fractional stock products reflect the reality that today’s traders are expanding into other industries.
Traders based in the US and other jurisdictions restricted by FTX have no right to use the stock exchange products.
FTX is a crypto derivatives exchange that offers Futures, Spot, Leveraged Tokens and OTC. Developed by Alameda Research (one of the largest crypto market makers and liquidity providers in the space).
FTX is headquartered in Hong Kong but is owned by FTX Trading Limited, the parent company in Antigua and Barbuda.
The crypto exchange is built by traders, for traders. The platform strives to build a platform powerful enough for professional trading firms and intuitive enough for first-time users.
Recently, the crypto platform opened its first African community which is to connect directly with its user’s and potential users in the region.