FTX launches fractional stocks offering
FTX, a global cryptocurrency derivatives exchange, together with Digital Assets AG (DAAG) and CM Equity, is launching a first-of-its-kind fractional stocks offering.
“Our traders have never seen crypto as a niche field,” says Sam Bankman-Fried, CEO of FTX. “These products demonstrate a powerful future, in which assets are digitised and traders have unlimited creative potential to express their beliefs about the markets.”
From 29 October, 2020 FTX exchange users will be able to register to access trading of more than a dozen equity and crypto pairs, featuring some of the most in demand stocks, such as TSLA, AAPL and AMZN.
The fractional stocks are being offered through an exclusive partnership with Digital Assets AG and CM-Equity AG.
“In just a couple short years, FTX has built a ‘by traders, for traders’ brand that is constantly looking to innovate ahead of the trading status quo,” says Michael Kott, CEO of CM-Equity AG. “In considering a first partner for our fractional stock offerings, they were the obvious choice.”
“Both crypto trading and equities trading have been steadily attracting a wider audience with new market participants coming in,” says Bankman-Fried. “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.”
Traders in the United States and all of FTX's other restricted jurisdictions will not be allowed to access these equities.