FTX, the regulated cryptocurrency company of Sam Bankman-Fried, 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.
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. 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.
Sam Bankman-Fried says: “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 integrates with Reddit Community Points, making the customer experience a more seamless process.“
Niraj Sheth, Staff Software Engineer at Reddit, shared: “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.“