Cryptocurrency exchange FTX has launched FTX Access, which will be a new unit aimed at attracting institutional clients, and will offer advisory services, index products, trade execution, analytical tools and capital introductions for institutional investors.
The launch of the new unit is headed by ex-Coinbase Global Inc. executive Gustavo Miguel, and it will offer crypto-linked exchange traded products and other asset management products.
Sam Bankman-Fried, CEO of FTX, noted:
“The role crypto plays in the global financial landscape continues to expand, and with that comes an influx of institutions looking to add crypto to their balance sheets. To make the transition into the digital asset ecosystem seamless for these institutions, we have launched FTX Access in order to provide these companies with familiar services. Our goal is to provide services that make it easier for traders at all levels to invest in cryptocurrencies, while also meeting compliance and regulatory standards found in traditional finance. We believe institutional interest in digital assets is accelerating so this is a great time to make it a top priority for FTX.”
“This is our first major institutional push. We believe the timing is right to really be focused on this part of the business,” added Miguel, the U.S. head of FTX Access.
Jon Cheesman, the Global Head of FTX Access, added:
“At FTX, we are always seeking to enhance and expand our offerings to meet client demand and FTX Access is the latest stage of that process. Throughout our conversations with institutions seeking exposure to digital assets, they have vocalized a need for secure, transparent, and cost-effective execution, custody, and asset management services. FTX Access has been designed to fit just that need. We are excited to bring these services to market and are looking forward to delivering our best possible services to our clients.“
The cryptocurrency exchange FTX recently established a European division, headquartered in Switzerland, with a base in Cyprus, receiving approval from the Cyprus financial market regulator, CySEC, as announced on Monday. Only two years after the launch of FTX.US the crypto exchange is valued at $8 billion following a $400 million fundraise in January.
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Source: https://cryptodaily.co.uk/2022/03/crypto-exchange-ftx-launches-ftx-access