FTX US acquires Embed Financial subsidiary for stock trading platform

FTX US acquires Embed Financial subsidiary for stock trading platform


The United States-based subsidiary of cryptocurrency exchange FTX will acquire Embed Financial Technologies as part of a deal aimed at “enhancing” the company’s stock offering.

In a Tuesday announcement, FTX US said it will purchase Embed Financial Technologies and its subsidiary, clearing firm Embed Clearing, for an undisclosed amount “pending satisfaction of customary closing conditions and regulatory approval.” The deal followed the crypto firm’s announcement in May that it would be launching a stock trading platform, with FTX Stocks partnering with Embed Clearing to “execute, clear and custody” user accounts and trades.

According to FTX US president Brett Harrison, the acquisition of the clearing firm will provide the technology and infrastructure facilitating the crypto exchange’s stock offering. The FTX Stocks platform has been in beta testing for

Trending: Why is Amazon Quietly Buying Land Across the United States?

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend