Cryptocurrency derivatives exchange FTX has announced that it is expanding its offering of tokenized stocks, with the addition of five cannabis-related companies.
Wednesday’s announcement, tweeted by FTX and Alameda Research CEO Sam Bankman-Fried, got into a haze of ex-hemp-lary (sorry) marijuana puns.
“To be blunt, this is one of the thinnest collaborative lists we’ve made. FTX: moving jobs forward and eliminating competition. “
The newly listed tokenized shares are some of the biggest names in the cannabis market: Tilray, Canopy Growth Corporation, Aurora, Chronos Group and Aphria.
Tokenized and fractional stocks allow individual stocks to be split into smaller pieces, allowing retailers to speculate on high-value stocks with less capital.
As Cointelegraph reported, FTX originally launched the fractional stock offering the end of October. At launch, it had more than a dozen initial equity and crypto links with tokenized derivatives of Tesla (TSLA), Apple (AAPL), and Amazon (AMZN) stocks.
The current addition of these five cannabis stocks brings the total number of publicly traded company stocks and funds to 30. All of these are available in both spot and futures variants.