FTX is calling on banks to reach out and discuss the possibility of accepting stablecoins in exchange for a $1 million reward.
FTX stated it was exploring forming relationships with banks in different regions to enable users to have “near-instant and near-free deposits and withdrawals” through stablecoins. The exchange floated the idea of offering a $1 million prize for the first bank in each region to accept the tokens but hinted it would be open to giving more.
The pitch to the exchange’s more than 350,000 Twitter followers came following FTX CEO Sam Bankman-Fried, or SBF, suggesting additional regulatory clarity was needed for the crypto space including stablecoins to move forward as an industry.
FTX stated that it aimed for an audience including but not limited to U.S. banks in calling for an agreement on stablecoins, and would be open to speaking to credit unions. The exchange is incorporated in Antigua and Barbuda and headquartered in The Bahamas but also operates FTX US for U.S. users.
