- FTX Pay is integrating with Reddit to permit users to unlock new crypto features.
- The integration will help users purchase ETH via supported Reddit apps to pay for their blockchain gas fees.
The newest integration of Reddit with crypto exchange FTX’s payment and exchange infrastructure platform, FTX Pay, will permit users to purchase Ether from supported Reddit apps to pay for a variety of purposes including blockchain gas fees or network fees.
FTX Pay X Reddit
Crypto exchange FTX is consistently experimenting by adding new services to its growing portfolio. The exchange has recently announced its collaboration with Reddit by integrating its payment and exchange extension FTX Pay with the social news aggregator giant.
Per the official announcement, Reddit users will be able to unlock new crypto features by utilizing the Reddit community points accumulated and earned by users on the platform.
“FTX, a leading regulated cryptocurrency company, today announced an integration with Reddit’s Community Points in the US, EU, Australia, and other global markets. The partnership features the integration of FTX Pay as a white-label payment and exchange solution to support users onboarding Community Points.” The blog adds.
The announcement further includes that users will be able to purchase Ether from supported Reddit apps, which they can later use to expend for a variety of blockchain services including blockchain fees for their Community Points transactions on-chain.
“The integration of FTX Pay allows users to purchase Ether cryptocurrency from supported Reddit apps, which then can be used to pay blockchain network fees for their Community Points transactions on-chain.” The blog further adds.
Reddit community points can be defined as in-app rewards that users can accumulate and earn. These points are usually displayed alongside their usernames and help other users categorize prominent Reddit members.
“Reddit Community Points are a measure of reputation in users’ communities. In subreddits, they are displayed next to usernames, so the biggest community contributors stand out from the crowd. Because Community Points are on the Arbitrum Nova blockchain, users can take their reputation anywhere they’re recognized on the Internet.”
Speaking about the FTX Pay-Reddit integration, FTX’s CEO Sam-Bankman Fried lauded Reddit’s consistent efforts in empowering online communities.
“We’re excited to partner with Reddit to continue their work to empower online communities to harness the power of blockchain. FTX Pay’s payment and exchange infrastructure integrate with Reddit Community Points, making the customer experience a more seamless process.” SBF on FTX Pay- Reddit partnership.
Similarly, Reddit’s Staff Software Engineer Niraj Sheth echoed similar sentiments, adding how the firm is always looking forward to broadening its service portfolio by experimenting with new blockchain technology.
“We’re always working to empower communities and introduce new ways to use Reddit, and decentralized, self-sustaining blockchain technology allows us to do that. By working with FTX, we’re able to do this at scale.” Sheth later adds.