TechFlow news — FTX.US announced it will acquire Embed as part of the expansion of its stock division, FTX Stocks. Specific terms of the transaction were not disclosed in the announcement. Embed provides white-label brokerage services and APIs to proprietary broker-dealers and registered investment advisors. FTX.US has been expanding its stock trading platform over the past year, aiming to adopt Robinhood's (HOOD) well-known low-cost brokerage model by charging no commissions or trading fees.
Additionally, FTX stated in its release that FTX Stocks is currently available to select customers in a private beta version and will be rolled out to all domestic FTX.US customers later this summer. The acquisition is still subject to regulatory approval.
