KEY POINTS

  • FTX US has introduced FTX Stocks to allow users to trade stocks and ETF
  • The firm has partnered with Embed Clearing LLC to provide the service
  • Users can trade without any commission or additional fees on the FTX US platform
  • The feature will be launched first in a private beta phase

FTX US, the U.S. arm of the world's second-biggest cryptocurrency exchange FTX, will now allow its app users to trade in hundreds of U.S.-listed stocks and exchange-traded funds.

The feature will be launched first in a private beta phase only for a few users selected from a waitlist, FTX said in a press release.

"Our goal is to offer a holistic investing service for our customers across all asset classes. With the launch of FTX Stocks, we have created a single integrated platform for retail investors to easily trade crypto, NFTs, and traditional stock offerings through a transparent and intuitive user interface," FTX US President Brett Harrison said in the statement.

FTX Stocks will be integrated within the FTX US crypto trading application, which will give users access to multiple securities under a single roof. At first, the new feature will route all the orders through Nasdaq for increased transparency and better and fair pricing.

Additionally, FTX Stocks will offer a service with "no-fee brokerage accounts, commission-less trading, and free-market data and company fundamental data." The firm also plans to remove the minimum required customer balances and tiered account systems, which are commonly seen in the retail stock trading platforms, for making investments easy.

This marks the first time in the history of the crypto and stock trading industry that "retail brokerage accounts can be funded with fiat-backed stablecoins such as USDC via a partnership with the FTX U.S. crypto exchange." Traditional options of USD deposits via wire transfers, ACH transfers and credit card deposits will be allowed too.

FTX Stocks has partnered with Embed Clearing LLC, a new FINRA, DTC, NSCC, and Nasdaq member clearing firm, which will be responsible for routing, executing, clearing and custody of all FTX Stocks customer accounts and trades.

"As we grow the product offering and capabilities, we are excited to give our customers even greater choice for order execution, as well as the tools they need to make informed routing decisions," Harrison said.

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