Cryptocurrency exchange FTX expands in traditional sector and invests in IEX stock exchange

Cryptocurrency exchange FTX expands in traditional sector and invests in IEX stock exchange

One of the fastest growing crypto exchanges in the world, is making a significant investment in the traditional finance sector. What can FTX’s participation in IEX bring to cryptocurrency adoption?

An opportunity for digital securities

Investors Exchange (IEX) is one of the most famous stock exchanges within the United States. In recent days, it has become an investment target for FTX. Sam Bankman-Fried’s cryptocurrency exchange, is very active in the investment market and for this reason, it is currently acquiring shares in IEX. Representatives of FTX have signed an agreement that opens the door for them to co-create a market for securities trading of digital assets.

According to available information, the two parties are planning to close the deal in the coming month. However, regulatory approval is needed for this plan to go through. This one so far seems to be just a formality. The details of the investment value are not known. 

According to Sam Bankman-Fried, this investment is not only a significant step in the development of FTX, but also an excellent move for its image. In his words:

“Investing in IEX has created a huge opportunity for FTX. With this investment, we have become part of one of the most trusted and innovative companies in the stock market.”

In turn, IEX co-founder and CEO Brad Katsuyama notes that the collaboration is also a regulatory opportunity. As he puts it:

“To unlock its full potential, the cryptocurrency and digital asset industry needs to engage with regulators and truly scale what has been built. We both see regulators as important allies in providing a clear path forward and achieving the highest possible standards of investor protection.”

A positive move for the cryptocurrency world

The collaboration does not only boost the image of the FTX exchange, but also gives a much larger audience access to cryptocurrencies. The new initiative will allow significant numbers of both individual and institutional customers to access blockchain-based products. 

The groundbreaking move from FTX is also an opportunity for significant regulatory changes. As a result, and in the long run, not only the mentioned exchanges will benefit. The collaboration paves the way for other companies operating in the crypto industry. It is expected that these kinds of collaborations will occur more often. 

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

All articles loaded
No more articles to load

Knowledge Base

Terra (LUNA)

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are…
All articles loaded
No more articles to load

Analyses

All articles loaded
No more articles to load

Knowledge Base

What is Terra (LUNA)?

This time we take a look at another project that dived deep into the hearts of investors. What exactly is Terra (LUNA)? Blockchain Terra (LUNA)…

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain for investors. What distinguishes the…

What are stablecoins and how can you use them?

In recent years, cryptocurrencies are experiencing a real “boom”! And not just for cryptocurrencies – the rise in popularity applies to blockchain technology in general.…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND…

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity constantly growing? Support for Ethereum…

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies and global interest. But does…
All articles loaded
No more articles to load