Cryptocurrency News

FTX US acquires Embed Financial subsidiary for stock trading platform

06/22/2022

Less than a minute

2022.06.22 00:41

FTX US acquires Embed Financial subsidiary for stock trading platform

The United States-based subsidiary of cryptocurrency exchange FTX will acquire Embed Financial Technologies as part of a deal aimed at “enhancing” the company’s stock offering.

In a Tuesday announcement, FTX US said it will purchase Embed Financial Technologies and its subsidiary, clearing firm Embed Clearing, for an undisclosed amount “pending satisfaction of customary closing conditions and regulatory approval.” The deal followed the crypto firm’s announcement in May that it would be launching a stock trading platform, with FTX Stocks partnering with Embed Clearing to “execute, clear and custody” user accounts and trades.

06/22/2022

Less than a minute

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