{"id":386897,"date":"2021-12-28T23:45:00","date_gmt":"2021-12-28T20:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-exchange-floats-1m-prize-for-banks-to-accept-stablecoins\/"},"modified":"2021-12-28T23:45:00","modified_gmt":"2021-12-28T20:45:00","slug":"ftx-exchange-floats-1m-prize-for-banks-to-accept-stablecoins","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-exchange-floats-1m-prize-for-banks-to-accept-stablecoins\/","title":{"rendered":"# FTX exchange floats $1M prize for banks to accept stablecoins"},"content":{"rendered":"<p>&#8220;<strong># FTX exchange floats $1M prize for banks to accept stablecoins  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvOGE2NTFlMWYtMDI1Yy00YzkxLWFkMzMtNjkxYzg4Zjg3MmZjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Cryptocurrency derivatives exchange FTX is calling on banks to reach out and discuss the possibility of accepting stablecoins in exchange for a $1 million reward.<\/p>\n<p>In a Tuesday <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> post, FTX <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FTX_Official\/status\/1475917174858338305\">said<\/a> it was exploring forming relationships with banks in different regions to allow users to have \u201cnear-instant and near-free deposits and withdrawals\u201d 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.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">How much would it cost to convince a bank to accept stablecoins? <\/p>\n<p>If we offered a $1m prize for the first bank in each region that does it is that enough?<\/p>\n<p>Do you work for a bank and want to discuss this?<\/p>\n<p>\u2014 FTX &#8211; Built By Traders, For Traders (@FTX_Official) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FTX_Official\/status\/1475917174858338305?ref_src=twsrc%5Etfw\">December 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe pitch to the exchange\u2019s more than 350,000 Twitter followers came following FTX CEO Sam Bankman-Fried, or SBF, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1475567126165532676\">suggesting<\/a> additional regulatory clarity was needed for the crypto space \u2014 including stablecoins \u2014 to move forward as an industry. According to the CEO, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1475567142447816709\">creating<\/a> a \u201creporting\/transparency\/auditing based framework\u201d to confirm how the coins are backed would \u201csolve 80% of the problems while allowing stablecoins to thrive onshore.\u201d<\/p>\n<p>FTX <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FTX_Official\/status\/1475922542212771842\">said<\/a> 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. <\/p>\n<p>&#8220;We just acquired a bank and this is a good idea,&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/OliverBCB\/status\/1475920588413808644\">said<\/a>\u00a0Oliver von Landsberg-Sadie, CEO of the London-based BCB Group. &#8220;No prize required by us, you are already a client of ours, and we all gain in the long run.&#8221;<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Regulators are coming for stablecoins, but what should they start with?<\/em><\/strong><\/p>\n<p>This year, many U.S. regulators have turned their attention to stablecoins, with The President\u2019s Working Group on Financial Markets releasing a report in November suggesting that issuers should be subject to \u201c<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ropriate federal oversight\u201d akin to that of banks. Nellie Liang, the Undersecretary of the Treasury for Domestic Finance, has also hinted at additional laws affecting the coins.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ftx-exchange-floats-1m-prize-for-banks-to-accept-stablecoins\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# FTX exchange floats $1M prize for banks to accept stablecoins &#8221; Cryptocurrency derivatives exchange FTX is calling on banks to reach out and discuss the possibility of accepting stablecoins in exchange for a $1 million reward. In a Tuesday Twitter post, FTX said it was exploring forming relationships with banks in different regions to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":386898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvOGE2NTFlMWYtMDI1Yy00YzkxLWFkMzMtNjkxYzg4Zjg3MmZjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74860,75493,71939,117],"class_list":["post-386897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrency-exchange","tag-stablecoin","tag-banks","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/386897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=386897"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/386897\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/386898"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=386897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=386897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=386897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}