FTX releases bitcoin pairs for Amazon, Apple and Tesla. Announced on Thursday, users of the crypto derivatives exchange are now able to register to trade over 12 equity and cryptocurrency pairs via the fractional stocks provided by the platform in what FTX calls a “first of its kind” offering.
This will suggest that users can now start trading high demand stocks such as Tesla, Apple, and Amazon defined by tokens, against bitcoin ( BTC, +2.83%), stablecoins, and more.
“These products demonstrate a powerful future, in which assets are digitized and traders have unlimited creative potential to express their beliefs about the markets,” FTX CEO Sam Bankman-Fried said.
The tokens reflect a fraction of one share to promote liquidity. This means that traders would be able to exchange half of a share at a time if they want to, said Bankman-Fried. The offering is being made in collaboration with Digital Assets AG, a supplier of capital markets solutions, and CM Equity, an investment company.
“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,” the CEO said.
Traders in the U.S. and FTX’s other restricted jurisdictions, however will not be eligible to trade the products.
[image: Nicholas Cappello]
