Stocktwits, a New York-based social trading platform, announced that it is launching a cryptocurrency trading service on its platform today.

Stocktwits has partnered with US cryptocurrency exchange FTX US to provide the trading infrastructure.

The new capability will enable users to make cryptocurrency trades while staying on the Stocktwits platform.

The addition of cryptocurrency trading on the Stocktwits platform is part of the company’s efforts to guide users looking to exit traditional investments and provide them with other options.

The expansion is gearing up to meet the growing investor interest in alternative assets such as crypto assets.

Stocktwits reported that it has more than 6 million registered users with more than 5 million monthly users.

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Founded in 2008, Stocktwits has historically focused on providing US stock trading services with social features and data analysis tools designed to encourage discussions between traders and investors.

Recently, the company realized that cryptocurrency is developing into a large part of the discussions on its platform.

Rishi Khanna, CEO of Stocktwits commented:

Stocktwits has been building an active community since 2008 with our data processing tools and social features.

The community and data served as a strong starting point in the platform, but adding implementation on the platform is a major expansion of the product and will help us better serve our users.

In December, Stocktwits raised $30 million in Series B funding led by Alameda Research Ventures, a venture capital firm owned by crypto FTX.

The funding pushed Stocktwits’ valuation to $210 million.

Making equity investing more accessible to a larger audience:

A few years ago, StockTwits launched a commission-free stock trading service for its users.

The move mimics the rapidly growing service already offered by Robinhood, a commission-free, no-brokerage-fee investing app that has reached more than 24 million users.

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StockTwits has launched a micro-trading feature that removes the barriers many investors face when trying to invest in a diversified portfolio of US-listed securities.

Many companies are currently using free or cheap trading services to attract clients to more profitable business.

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