FTX wants to convince Banks to accept Stablecoins

FTX exchange is offering rewards for banks to accept the stablecoins based payment options for their users. 

In the present time, crypto and blockchain adoption are at tremendous levels. But the non-crypto community is feeling insecure to go with the crypto trend because they are thinking that it is a kind of bad thing, which can spoil their investment. However there is a need for better crypto education among such people but besides all these things, there is a big need for Banks associations in the crypto industry. If banks can link their services directly with the crypto services then in that situation it will become a very easy thing for other people to think & enter crypto. 

FTX is a popular crypto exchange and its services are available in many countries under full compliance. This exchange provides spot and derivatives for both types of services. 

On Tuesday, FTX wrote on Twitter how much it will cost to convince a bank to accept Stabelcoins payment. And also the exchange wrote through the tweet that they will give a reward of $1 million to a bank that will be first to accept Stabelcoins payment. 

We'd love to form a relationship like this if it means FTX users would have near instant and near free deposits and withdrawals

— FTX – Built By Traders, For Traders (@FTX_Official) December 28, 2021

Through the tweet, FTX also confirmed that it will give ease for the people to go directly to a nearby bank to deposit their funds directly to get started. 

Earlier this, an FTX exchange executive shared his stance on the regulatory body system. Exchange exec said that it is very tedious for the crypto businesses to get approval from multiple regulatory bodies. And suggested bringing a single regulatory body to operate all kinds of crypto services like one agency for spot and derivatives trading platforms. 

Read also: Korean exchange Coinone will not allow withdrawal for unverified external wallets