FTX Working on Its Own Stablecoin
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Cryptocurrency exchange FTX is working on its own stablecoin, as the exchange wants to take its place in a highly competitive market.

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In an interview with The Big Whale, FTX Founder, Sam Bankman-Fried, said that the trading platform is already seeking a partner to develop the product. He noted that FTX already knows how to create a stablecoin:

"We know how to create a stablecoin. We're just thinking about the best partner to do it with."

While Bankman-Fried didn't say the exact timeframe when the exchange plans to roll out its own stablecoin, he hinted that the exchange will reveal its plans in this direction soon.

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Speaking about acquisitions, the FTX head said the exchange could buy a "company like Robinhood." Although he ruled out this scenario, saying that FTX aims at growing "organically," he acknowledged that the company is "interested" in several companies.

In September, reports said that FTX was in talks with a group of investors to raise $1 billion to keep its valuation at $32 billion. However, no official announcements regarding the funding have been published since then.

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