Crypto Exchange FTX Plans To Develop a Stablecoin, Says CEO Sam Bankman-Fried: Report

The Bahamas-based crypto exchange FTX could soon develop its own stablecoin, according to the firm’s chief executive, Sam Bankman-Fried.

In a new interview with European Web3 media company The Big Whale, Bankman-Fried teases the possibility that FTX could make moves on issuing a stablecoin soon.

“We’ve held off on doing it because I think to some extent we think that collaboration on that could be really powerful, and with us trying to find the partners that we’d be really excited to work with there. But I think you’ll probably be hearing something from us on that topic in the not-too-distant future.”

The FTX CEO also denies that his company is interested in buying retail trading giant Robinhood. FTX has been on a purchasing spree during the ongoing crypto bear market.

“There are two ways for a company to grow: either it buys companies or it continues to grow internally. The most important thing is to continue to grow, to attract users, whichever way you do it. We could buy a company like Robinhood, but that’s not what we’re looking at right now. Our challenge is to continue to grow organically.”

During the interview, Bankman-Fried also expresses optimism about FTX’s metrics and potential to grow.

“We have excellent numbers. We do six times more volume than Coinbase while we have 20 times less users… When you look at these numbers, you can see that there is a lot of potential.”

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