Social Networking platform StockTwits announced Thursday that it has launched a cryptocurrency trading platform in partnership with crypto exchange FTX. Users will have access to live trading from its app, making it the platform’s first trading feature.
StockTwits is a New York-based social networking platform with an active community of investors and traders who share tips and ideas on specific securities or general stock market news. The app claims to have more than 6 million registered users and reaches over 5 million users on the platform monthly.
“Stocktwits has built an active community since 2008 through our data tools and social features. The community and data have served as a strong on-ramp into the platform, but the addition of execution on the platform is a key product expansion that will help us to better serve our users,” said Rishi Khanna, CEO of Stocktwits, in the announcement Thursday.
The company has also partnered with the likes of Robinhood, Fidelity, and Scottrade to encourage more retail investors into the fintech industry. It last raised funding in December 2020, securing around $40 million from Alameda Research Ventures, ffVC, Foundry Group, and others.