The FTX cryptocurrency platform is expanding into the US stock market

The expansion underlines the scope of Bankman-Fried and his willingness to enter into financial services that are more strictly regulated than the cryptoma markets on which the 30-year-old FTX founder deserves billions.

"Our goal is to offer our customers a holistic investment service across all investment classes," said Brett Harrison, President of FTX Us.

"We want to become the 'Alles-Exchange' and the 'Alles app' when it comes to financial services and fintech in general," added Harrison. "We use the knowledge gained in crypto to improve the traditional market structure and in some cases."

The announcement was only made a few days after it became known that Bankman-Fried had paid $ 648 million for a 7.6 percent participation in Robinhood, an online single-retail broker, which also acts with stocks and cryptos. He said in a file that he bought the shares because they were an “attractive investment” and that he did not intend to “control” the broker.

Harrison said FTX could be seen as a competitor of Robinhood because he "spent" for a long time "to study his business model to" see if there are elements that can be imitated or improve ".

FTX Stocks, as the new offer is called, does not raise any fees or commissions and do not accept any payments for his order flow, as Robinhood does. When asked how the operation would earn money, Harrison said: "It is not an essential part of our business that this is profitable from day one." He said that could change depending on how the service is accepted.

to stand out from others, FTX US said that it would accept payments for share purchases in "Fiat-based stable coins" including USD Coin and Binance USD. This would rule out so -called algorithmic stable coins such as Terrausd. Based on his rules, Harrison said that FTX would not accept such known stable coins like Tether for these payments.

ftx said that it offers the securities trading service via its broker dealer, which is now called FTX Capital Markets, in partnership with embed clearing, a provider of "white label" broker.

FTX's advance takes place in shares, since the company catches up with the permission of the Commodity Futures Trading Commission, a US regulatory authority for derivatives, to introduce its brand of automated risk management into the Leveraged Futures industry and to use computers for functions that are now being entrusted to bracters.