FTX US Launches Stablecoin Backed Stock Trading, Russian Minister Says Legalizing Bitcoin Is A Matter Of Time, Jamiroquai Funky Jazz Band on Sandbox

Written by Lindi Miti

May 20, 2022

FTX U.S. Launches Stablecoin Backed Stock Trading

FTX US, a cryptocurrency exchange, is launching a stock trading platform. The platform will allow retail investors to invest in the U.S. equities market using fiat-backed stablecoins like USD Coin (USDC).

“With the launch of FTX Stocks, we have created a single integrated platform for retail investors to easily trade crypto, NFTs, and traditional stock offerings through a transparent and intuitive user interface,” said Brett Harrison, the President of FTX US. 

FTX Stocks will route all orders via the Nasdaq Exchange, allowing a transparent system. They also will not take a commission on trades. The FTX Stocks platform will be initially available in a private beta phase for select U.S. customers. 

Russian Minister Says Legalizing Bitcoin Is A Matter of Time

Russian minister of industry and trade, Denis Manturov, said that legalizing bitcoin and other cryptocurrencies as payment methods will happen in a matter of time. “The question is when it will happen, how it will happen, and how it will be regulated. Now both the Central Bank and the government are actively engaged in this,” Manturov during the New Horizon event. 

Last year, the Bank of Russia pushed to ban cryptocurrency completely, citing that cryptocurrency posed a threat to the banking system. However, the Ministry of Finance passed a bill to regulate cryptocurrency, focusing on anti-laundering and tax collection.

President Vladimir Putin asked the two regulatory agencies to come to an agreement on the matter, as he believes that Russia could have a competitive advantage in Bitcoin mining. 

Jamiroquai’s Virtual Insanity on Sandbox

Funky acid-jazz band, Jamiroquai, announced a partnership with The Sandbox, a blockchain-based virtual world platform. The official announcement said Jamiroquai plans to “get funky in the metaverse”. Jamiroquai is an award-winning band that plays funk, acid jazz, soul, and disco. The band is famous for hit songs like Virtual Insanity and Canned Heat.

“Jamiroquai have always been future-facing, and super social. Creating a land where everyone can come together in The Sandbox with a bit of funk, freedom, and fashion will provide a communal place to digitally connect with our fans and fellow music lovers,” said the Jamiroquai band. 

The Sandbox and Jamiroquai will celebrate the partnership with Jamiroquai x Sandbox merchandise. The merchandise is a limited edition t-shirt and keyring. The items are available exclusively on store.jamiroquai.com.

Written by Lindi Miti © Crypto University 2022   

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