Stocktwits launches equities trading
The social platform turned trading platform has announced the expansion of the company’s existing suite of trade execution capabilities with the launch of equities trading.
The New York-based firm was originally a social platform for investors and traders across all asset classes including stocks, crypto, and other emerging investments, and finally moved into the brokerage space in February 2022, when it launched crypto trading.
Now, with equities trading, Stocktwits offers a complete user journey, from awareness to execution, allowing users to purchase stocks directly within the Stocktwits platform through its wholly owned subsidiary and SEC registered Broker-Dealer, ST Invest, LLC.
Rishi Khanna, Chief Executive Officer of Stocktwits, said: “The Stocktwits community has been avidly following the equities market since our inception in 2008. With the addition of equities trading to our existing crypto trading product, the Stocktwits platform continues towards bringing a full suite of execution capabilities. We’re excited to give our users a complete experience within the platform where they’ve formed their investing identity.”
Stocktwits plans to expand to more asset classes
Stocktwits has more than 6 million registered users and reaches over 5 million users on the platform monthly. The company plans to build new tools and data, expand execution functions to even more asset classes, and continue fostering a strong community.
Two of the six million registered users joined Stoctwits over the past two years. The firm has recently raised $30 million in a fundraising round. Alameda Research Ventures, owned by Sam Bankman-Fried, who also owns FTX, is one of the investors.
This has likely facilitated the decision to bring FTX to the table as the US-based cryptocurrency exchange is set to provide the infrastructure for Stocktwits, with the same tiered fee structure that can be found on the FTX platform.
Stocktwits’ crypto trading services are powered by FTX. The firm is also prioritizing access to quality data for alternative assets that previously were not available to the average user.
Crypto was the first asset class to become available on the social trading platform not only because retail investors are increasingly interested in the emerging asset class but also because there are fewer regulatory hurdles to offering crypto trading as opposed to equities.
Equities trading at Stocktwits is now a reality and the firm plans to expand further into more asset classes.
