Crypto derivatives exchange giant FTX has called out banks all over the world to discuss the possibility of stablecoins adoption on exchange in return of a $1 million reward.
🔥Reach more than 5 000 000 real investors via Twitter influencer marketing! 🔥
In a tweet on Tuesday, FTX said it was looking into forming partnerships with banks throughout the globe to allow customers to make “near-instant and near-free deposits and withdrawals” using stablecoins. The exchange proposed a $1 million prize for the first bank in each zone to accept the tokens and added that it would be ready to offer even more. It adds:
Do you work for a bank and want to discuss this?
How much would it cost to convince a bank to accept stablecoins?
If we offered a $1m prize for the first bank in each region that does it is that enough?
Do you work for a bank and want to discuss this?
— FTX (@FTX_Official) December 28, 2021
Following FTX CEO Sam Bankman-Fried or SBF, indicating that further regulatory clarification was needed for the crypto ecosystem — including stablecoins — to move ahead as an industry, the plea to the exchange’s more than 350,000 Twitter followers was made. Creating a “reporting/transparency/auditing based framework” to validate how stablecoins are secured, according to the CEO, would address 80% of the issues while allowing stablecoins to flourish onshore.
FTX aims broader audience
In pushing for a stablecoin agreement, FTX said it aimed for a broad audience, but not just limited to the U.S. banks, and that it would be willing to meet with credit unions. The exchange is headquartered in The Bahamas and is incorporated in Antigua and Barbuda, but it also runs FTX.US for US users. As TheCoinRise reported, FTX.US recently launched an NFT trading platform on the Solana blockchain.
CEO of the BCB Group in London Oliver von Landsberg-Sadie said, “We just bought a bank, and this is a good idea.” He added that the company doesn’t require a prize because FTX is already its client, and all will benefit in the long run.
Many U.S. officials have been looking into stablecoins and their authenticity this year, with the U.S. considering a structured regulatory set for stablecoin issuers.
🔥Reach more than 5 000 000 real investors via Twitter influencer marketing! 🔥
