FTX US is deepening its hold as it looks to hit it off on the right foot with regulators concerning its new stock product offerings.
In doing this, the firm has announced the acquisition of Embed Financial Technologies Inc., including its wholly-owned subsidiary Embed Clearing LLC for an undisclosed sum.
According to the trading platform, the acquisition is subject to customary closing conditions and regulatory approvals. The acquisition is mutually beneficial for both companies as FTX US brings massive capital to help Embed scale and meet its brokerage and clearing obligations.
The company offers brokerage services and APIs to licensed brokers and registered investment advisors. Prior to this time, it counted FTX US as one of its numerous clients. The startup is a new FINRA, DTC, NSCC, Nasdaq, and IEX member clearing firm.
"As I mentioned when we launched FTX Stocks, our new equities and ETF trading platform, our goal at FTX is to provide a comprehensive trading application that...
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