FTX US Prepares to Offer NFTs, Derivatives, and Tokenized Stocks

The U.S. arm of FTX.com has announced it’s planning on adding derivatives, self-hosted NFT wallet services, and tokenized stocks. U.S. based customers will have access to these new products in 2022

The announcement came in the form of a tweet by FTX US President Brett Harrison when he was discussing the steps the exchange is taking to create self-hosted wallets for FTX NFTs and NFT gaming.

FTX US laid the groundwork for offering these services back in October through the acquisition of Ledger Holdings. Ledger Holdings is the parent company of LedgerX, a digital currency futures and options exchange and clearinghouse. Immediately after the acquisition FTX US rebranded the site to FTX US Derivatives.

FTX US has been growing rapidly, with its user count more than doubling in the fourth quarter of 2021.

In terms of NFTs, FTX US was the first exchange-based NFT marketplace to list Ethereum and Solana-based NFTs. That space is becoming increasingly competitive as industry giants Coinbase Global and Binance have also been growing their operations. Coinbase alone has recorded millions of user signups in the weeks after announcing its development of an NFT marketplace.

NFTs will become increasingly important for FTXs business. Just a couple weeks ago the company inked a partnership with the Golden State Warriors professional basketball team. The team is looking to create NFTs and will launch those on the FTX US marketplace. FTX has been quite active in U.S. sports, including sponsorship of the Miami Heat stadium, and purchasing a television ad slot during the U.S. football championship Superbowl game.

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Source: https://www.coinbureau.com/news/ftx-us-prepares-to-offer-nfts-derivatives-and-tokenized-stocks/