Crypto exchanges and retail brokers vie for customers as trading ardour cools

Number of trades at traditional US brokerages plunged 32 per cent in first quarter of 2022 compared to previous year. FTX will begin stock trading this year and has supplemented its strategy with purchases of equities clearing house Embed Financial and an undisclosed stake in IEX, the regulated stock exchange. Retail brokers are trying to stay competitive and attract new users in a market where commissions for trading shares are zero. But both sides face obstacles to making the breakthrough in each other’s market. “When companies now want to offer crypto trading on to existing share platforms, they have one huge problem: If they build it themselves, they will have a product that is like it's in 2017,” said Eric Demuth, co-founder and chief executive of Bitpanda. Source