According to an announcement published on Wednesday, FTX US, the US-regulated branch of crypto exchange FTX, has established an exclusive agreement with leading video game retailer GameStop Corp (NYSE: GME).
FTX and its US subsidiary have been aggressively expanding despite the crypto winter, and this is yet another step towards traction in the US digital assets market.
GameStop’s official exchange partner is FTX US.
According to the press release, the collaboration would allow GameStop to provide its customers with more information about digital currencies and other solutions in the crypto ecosystem.
To that end, FTX US has been appointed as GameStop’s sole bitcoin exchange partner in the United States. GameStop, on the other hand, is FTX US’s chosen retail gaming partner.
In a statement about the partnership and what it means for both firms, Brett Harrison, President of FTX US, stated:
“At FTX US, we prioritize the experience of our users, a belief that is shared by GameStop and one that has played an integral role in establishing the company as the premier video game retailer for consumers. We are excited for GameStop to become our preferred video game retail partner in the U.S. and leverage their high-traffic retail locations and significant web presence to further merge gaming and crypto fans.”
GameStop and FTX US intend to use their strategic alliance to engage on numerous fronts in order to expand both firms’ market footprints. These will include internet marketing initiatives, in-store advertising, and loyalty benefits via FTX US gift cards.
FTX US launched FTX Stocks in July, giving consumers in all 50 US states access to hundreds of stocks and exchange-traded funds, as we previously reported (ETFs). The move was another step forward for the company, placing it in a better position to compete in a market dominated by other established players.