Crypto Exchange FTX Plans to Launch Support for Trading Tokenized Nasdaq Stocks
On Thursday (October 29), spot and derivatives exchange FTX confirmed that it plans to launch next week a way to trade the tokenized form of select U.S. stocks against cryptoassets (including Bitcoin and certain stablecoins).
Tokenization means that it will be possible to buy fractions of popular U.S. stoocks such as Amazon (AMZN) and Apple (AAPL) — just like you can with platforms such as Robinhood (in the U.S.) and Revolut (in Europe) — with one major difference: you will be able to find trade these against not fiat currencies, but cryptocurrencies.
FTX Co-Founder and CEO Sam Bankman-Fried told Coindesk:
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.
