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FTX US Acquires Clearing Firm Embed to Enhance FTX Stocks
Wednesday 22 June 2022

US-based cryptocurrency exchange West Realm Shires Inc (FTX US) has acquired Embed Financial Technologies Inc., including its wholly-owned subsidiary Embed Clearing LLC, a new FINRA, DTC, NSCC, NASDAQ, and IEX member clearing firm, the company said.

Embed specializes in providing whitelabel brokerage services and APIs to broker-dealers and registered investment advisors.

The acquisition is anticipated to close, pending satisfaction of customary closing conditions and regulatory approval. The price of the acquisition will not be disclosed.

The acquisition signals the company's intention to expand the financial services it offers to US customers, and will enable it to route, execute, clear, and custody all customer equities and options accounts and trades through use of Embed's infrastructure and licensure.

In addition, Embed and FTX US share a common goal to provide whitelabel brokerage services to other businesses, applications, and customers.

FTX Stocks is currently available for select customers in private beta and will be made available to all domestic customers of FTX US later this summer.

FTX US is a US-regulated cryptocurrency exchange, built from the ground up. Its mission is for FTX US to grow the digital currency ecosystem, offer US and international traders a platform that inspires their loyalty, and to become a market-leading US-regulated cryptocurrency exchange.

Brokerage services offered by FTX US are provided by FTX Capital Markets LLC, which is an affiliated broker-dealer registered with the SEC and member FINRA/SIPC.

Custody, execution and clearing services for securities are provided by Embed Clearing LLC, an independent registered broker-dealer and member FINRA/SIPC.
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Date Published: 22/06/2022

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