Stocktwits, a social trading platform based in New York, today announced that it is launching crypto trading on its platform. Stocktwits has partnered with crypto exchange FTX US to offer the infrastructure for the trading. The new capability will enable its users to make cryptocurrency trades while staying on the Stocktwits platform.
The addition of crypto trading on its platform is part of efforts of the company to court users looking to branch out from traditional investments. The expansion is poised to fulfill increased investor interest in alternative assets such as crypto assets. Stocktwits mentioned that it has over 6 million registered users and reaches more than 5 million users monthly.
Established in 2008, Stocktwits has historically focused on offering U.S. equities through social features and data tools that are designed to encourage discussions between traders and investors. However, the company recently recognized that cryptocurrency has been evolving to become a huge part of the discussions on its platform.
Rishi Khanna, CEO of Stocktwits, talked about the development and said: “Stocktwits has built an active community since 2008 through our data tools and social features. The community and data have served as a strong on-ramp into the platform, but the addition of execution on the platform is a key product expansion that will help us to better serve our users.”
In December, Stocktwits raised $30 million in a Series B funding round led by Alameda Research Ventures, a venture capital firm, owned by Sam Bankman-Fried’s FTX cryptocurrency exchange. The funding pushed the valuation of Stocktwits to $210 million.
Making Equity Investing Accessible to Masses
A few years ago, StockTwits launched a commission-free share trading service for its users. The move mimicked the fast-growing service already offered by commission-free investing app Robinhood, which also has zero brokerage fees and has reached over 24 million of its users. StockTwits launched the fractional trading feature which eliminates the barriers that many investors face when trying to invest in a diversified portfolio of US-listed securities. Many firms currently use free or cheap trading services to attract clients to more profitable businesses.
Stocktwits, a social trading platform based in New York, today announced that it is launching crypto trading on its platform. Stocktwits has partnered with crypto exchange FTX US to offer the infrastructure for the trading. The new capability will enable its users to make cryptocurrency trades while staying on the Stocktwits platform.
The addition of crypto trading on its platform is part of efforts of the company to court users looking to branch out from traditional investments. The expansion is poised to fulfill increased investor interest in alternative assets such as crypto assets. Stocktwits mentioned that it has over 6 million registered users and reaches more than 5 million users monthly.
Established in 2008, Stocktwits has historically focused on offering U.S. equities through social features and data tools that are designed to encourage discussions between traders and investors. However, the company recently recognized that cryptocurrency has been evolving to become a huge part of the discussions on its platform.
Rishi Khanna, CEO of Stocktwits, talked about the development and said: “Stocktwits has built an active community since 2008 through our data tools and social features. The community and data have served as a strong on-ramp into the platform, but the addition of execution on the platform is a key product expansion that will help us to better serve our users.”
In December, Stocktwits raised $30 million in a Series B funding round led by Alameda Research Ventures, a venture capital firm, owned by Sam Bankman-Fried’s FTX cryptocurrency exchange. The funding pushed the valuation of Stocktwits to $210 million.
Making Equity Investing Accessible to Masses
A few years ago, StockTwits launched a commission-free share trading service for its users. The move mimicked the fast-growing service already offered by commission-free investing app Robinhood, which also has zero brokerage fees and has reached over 24 million of its users. StockTwits launched the fractional trading feature which eliminates the barriers that many investors face when trying to invest in a diversified portfolio of US-listed securities. Many firms currently use free or cheap trading services to attract clients to more profitable businesses.
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