The FTX cryptocurrency exchange continues to record major partnership deals that seek to boost the growth of the exchange. The exchange has secured a deal with StockTwits to allow users on the investment-focused social network to buy and sell cryptocurrencies.
The FTX exchange will be integrated into the StockTwits app and allow users to trade in cryptocurrencies. The integration will offer a comprehensive experience for those who want to trade digital assets.
FTX partners with StockTwits
The announcement notes that StockTwits users will receive access to all the cryptocurrencies listed on FTX. This is not the first time that the two organizations are working together. Towards the end of 2021, StockTwits received $30M in a funding round led by Alameda Research. Alameda research is a venture capital firm founded by FTX’s CEO Sam Bankman Fried.
During this funding round, FTX’s Head of Product, Ramnik Arora, had hinted at a future collaboration between the crypto exchange and FTX. StockTwits functions similarly to Twitter. While not all topics are crypto-related, users can customize their experience by searching the financial assets they are interested in. The user can then view the price chart, trading volumes and the recent discussions about the asset.
The integration with FTX will add a new feature on the social media platform as it will allow users to trade cryptocurrencies they are interested in on the platform.
FTX’s aggressive marketing strategies
The FTX exchange has invested in marketing and partnership deals to grow its user base in a highly competitive sector. In a recent interview with CNBC, FTX’s CEO stated that its user base had increased by 60% since October 2021. He further noted that the exchange’s trading volumes within the time averaged at $14 billion.
One of the notable marketing strategies being used by FTX is in the sports arena. Last year, FTX bought the naming rights to the NBA Miami Heat’s Arena that is now known as the FTX arena. It has also invested in a Super Bowl ad and is sponsoring the Major League Baseball.
FTX is also expanding its service offerings. Last year, it acquired LedgerX to allow the exchange to offer derivatives trading to the US market.
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