The exchange is broadening its reach beyond digital currencies by introducing US-listed stocks and exchange-traded funds (ETFs), targeting a more conventional investor base.
Ranked as the 13th largest cryptocurrency exchange globally by trading volume, the company has unveiled a selection of 11,000 US-listed stocks and ETFs with no commission fees, aiming to integrate “equities and digital assets into a single trading platform.”
As of April 14, users located in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama, and the District of Columbia can now access these stocks and ETFs from their account on the platform.
The exchange broadens its offerings to include stocks and ETFs.
The exchange intends to broaden client access in additional US states, initiating what it describes as a “phased national rollout.”
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Investor confidence, both in traditional markets and cryptocurrencies, took a notable downturn following the announcement of reciprocal import tariffs by US President Donald Trump on April 2.
The introduction of stock trading comes just days after the S&P 500 experienced a staggering $5 trillion loss in market capitalization over two days, the largest decline on record, which surpassed the $3.3 trillion decrease in March 2020 during the onset of the COVID-19 pandemic.
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Cryptocurrency is becoming the foundation for trading
The company’s venture into conventional investment products highlights the increasing significance of cryptocurrencies and blockchain technology, according to one of its co-CEOs.
“Cryptocurrency is not just undergoing changes; it’s establishing itself as the core infrastructure for trading across various asset classes, including equities, commodities, and currencies. As the demand for round-the-clock global access increases, clients are seeking a cohesive, all-in-one trading solution.”
He further remarked that branching out into traditional equities is a “natural progression” towards the tokenization of tangible assets and the “borderless” trading future enabled by blockchain technology.
The company also plans to extend its stock trading offerings to major global markets, such as the United Kingdom, Europe, and Australia.
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