SBF further stated that his exchange is thinking of the best partner to collaborate with to push its stablecoin venture in the right direction.
FTX may launch its own stablecoin
Despite the news of multiple stablecoins collapsing this year, the CEO of FTX, Sam Bankman-Fried, is keen on spearheading his own stablecoin venture in the near future.
In an interview with crypto media outlet The Big Whale, SBF revealed that his exchange is currently working on developing its own stablecoin, a type of crypto coin that's value is pegged to other digital assets or fiat currencies.
From the interview:
Yes, it is very likely. We know how to create a stablecoin. We’re just thinking about the best partner to do it with. What I can tell you is that you’ll be hearing from us soon.
SBF later took to Twitter to issue clarifications related to his stablecoin comments, adding that they are still in the preliminary stages.
FTX exchange expansions
FTX has recently been pursuing aggressive crypto acquisitions. The exchange recently acquired Voyager Digital, a crypto lending platform that went bankrupt in June, followed by taking control of BlockFi, another crypto lending platform, for a whopping $25 million.
In the recent interview, SBF shared how his recent acquisitions will help the company strengthen its position in the United States.
SBF also stated that the exchange is looking forward to expanding its services in Europe, especially in France, where crypto regulations are favourable enough for the team to build its base by establishing its first European headquarters in the region.