Renowned cryptocurrency derivatives exchange FTX has launched a completely unique method to trade the global leading stocks.
In line with a recent official announcement, the 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 looking a “first of its kind” product.
Additionally, users can begin trading high demand stocks like Tesla, Apple, and Amazon, represented by tokens, against Bitcoin [BTC, +1.91%], stablecoins, along with several others.
“These products demonstrate a strong future, during which assets are digitized and traders have the unlimited creative potential to precise their beliefs about the markets,” FTX CEO Sam Bankman-Fried added.
To facilitate liquidity, the tokens represent a fraction of 1 share, meaning traders are going to be able to trade half a share at a time if they need, Bankman-Fried added via Telegram.
The offering is being conducted in partnership with capital markets solutions provider Digital Assets AG and investment company CM Equity.
“These fractional stock products reflect the truth that today’s traders are industry as well as sector spanning and need trading opportunities that fully match their interests and mindset,” the CEO added.
Traders within the United States and FTX’s other restricted jurisdictions won’t be eligible to trade the products.
As per another announcement, FTX revealed the launch of TixWix – a product targeting retail users within the world of options trading – in collaboration with blockchain gaming platform HXRO.