According to CNBC, crypto exchange FTX has approached at least three stock trading start-ups about a possible takeover.

FTX wants to acquire stock trading start-ups

Sources familiar with the matter have said that FTX approached stock trading start-ups Webull, Apex Clearing, and Public.com. The conversations were still in their early stages and did not yet result in a deal. All three of these stock trading start-ups are also involved in both crypto and stock trading, which may be why FTX is interested in them.

FTX founder Sam Bankman-Fried took a 7.6% stake in Robinhood earlier this month, making him the third-largest shareholder. Given the likelihood that a Robinhood acquisition would be challenging to complete, the crypto exchange may have gone shopping elsewhere.

Commission-free trading

FTX  also recently announced its intention to enter the equity market. It plans to offer commission-free trading in the United States to attract more customers. The feature is now available to many small numbers of customers in the United States, but it hopes to expand to more traders in the coming months.

Given the conversations with start-ups in the field, it’s likely that FTX aims to increase its market share even further by taking advantage of down markets and acquiring other start-ups, similar to how tech companies increased theirs in the early 2000s. FTX.US also made a strategic investment in IEX Group, a licensed national stock exchange, earlier this year.