FTX US and Bitstamp USA planning to enter the stock market, why?
The recent few months indicated that crypto industry players are planning to go into the traditional market. Reports claimed that there are many reasons for the same.
Before the existence and popularity of the Crypto industry, the stock/share market was the main roof for unemployed people to get into money market Investment. But right now the crypto industry is doing much better against the Stock market and it is going to be the best choice for the young generation, whether they are not dependent on a particular country market and they are playing in the whole global money market unlike the stock market, which is limited to a particular country.
Brett Harriso, president of FTX US, said that FTX company is working at its best to introduce the traditional market with the options offerings, to allow the users to go with the stock market trading and easy tracking.
Around a week ago Steve Quirk was hired by the stock and crypto exchange Robinhood. Here Steve is popularly known as an expert in the traditional money market. So there are huge possibilities that Robinhood will list more quality assets to its platform. So that Robinhood users can trade with flagship crypto assets as well as flagship traditional stocks assets.
Reason to go with stock?
The whole crypto industry remembered very well about the controversy of Nasdaq-litsted Coinbase exchange, which was trying to launch its lending service but US Securities and Exchange Commission (SEC) ordered that it will be a security-based offering and the agency will consider it as Unregistered security-based offerings. Later Coinbase exchange decided to revoke the lending plans offerings.
However, on this matter, Canada-based Coinberry had stated that registration with the regulator to trade securities could remove such obstacles.
These things are hinting that Crypto services are not only trying to bring users in the crypto industry from the traditional market but also trying to eliminate some obstacles to its crypto offerings.