TL;DR Breakdown
• Crypto company chooses crypto regulation.
• FTX expects the link with IEX to be approved in the coming months.
Recently, the US-based crypto exchange FTX tactically invested in the IEX Group firm to boost the exchange’s crypto scheme. The investment will also show a transparent and comprehensive market that will work with cryptos.
The crypto company has stood out in the country for its multiple crypto developments, partnerships with other exchanges, and even acquiring the FTX Arena. But this time, FTX seeks to reach brokerage agencies with the IEX team supporting them.
FTX partnership with US stock brokerage
Reports suggest that FTX is meeting with the IEX director to reach an agreement that allows them to regulate and protect the cryptos in their system. In this way, decentralized trading would get the US stock market so new stakeholders can participate with them.
According to the crypto exchange CEO, this would represent the best opportunity for his company because it would bring them popularity and work for the decentralized market to reach other places, referring to stock trading.
Bankman-Fried added that his team would be collaborating to create a solid cryptographic structure that complies with the regulations established in the country. In this way, all hobbyists could use crypto trading in the United States and worldwide.
But the IEX CEO said that with this partnership, the full potential of the crypto industry would be released. Know that the brokerage was one of the first where crypto trading was approved under its conditions.
Recent movements in the crypto exchange
The FTX exchange has frequently been moving towards crypto market approval. Its partnership with IEX has only one of the moves the exchange has completed in recent months.
FTX put some $100 million into App Dave to boost crypto payments within the interface for March. In this way, Dave became more deeply involved in virtual trading, which undoubtedly increased the number of clients.
After that partnership, the App director believes that the Blockchain network has enough potential to help the traditional financial field. This tie-up with US-based FTX will allow their think tank to experience more in-depth about the crypto industry.
It is expected that by 2022 the crypto company will continue to advance in new agreements with brokerage agencies or other exchanges in the country. FTX’s intention has always been to bring crypto into a regulatory blueprint so that everyone can use the tokens. However, some of its goals have been affected by the position maintained by national regulators.
Source: https://www.cryptopolitan.com/ftx-join-forces-with-iex/