Stocktwits is launching a live trading feature for cryptocurrency on its platform in collaboration with FTX and plans to incorporate equities within the quarter.
BTCUSD is down -0.96%
FTX would offer systems for Stocktwits crypto trading, where the fees charged would be the same as those charged by the exchange.
The firm’s CEO, Rishi Khanna, notes that Stocktwits wants to start with cryptocurrencies and not equities because of fewer regulatory hurdles in the sector.
Stocktwits was started in 2008 and now has 6 million registered users. The social platform raised $30 million in a funding round in December.
The firm brings together users who mostly focus on cryptocurrency topics. Khanna notes that BTC and Ether are the most discussed subjects on the platform.
Robinhood, eToro, and Webull are other platforms that have incorporated social aspects like chats and trending topics. Venmo has also gained popularity by adding emoji and social feeds.