FTX Crypto Exchange Establishes Presence In Europe

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US-based cryptocurrency exchange FTX continues its global expansion by extending its presence into Europe after securing approval from the Cyprus Financial Market Regulator CySEC. In addition to Europe, the company has also announced expansion into the Middle East. FTX Continues Global Expansion According to a press release published today, FTX will start offering its products to European clients via a licensed investment firm with ‘passportable licenses across the European Economic Area. Users in the European Economic Area will be able to access FTX’s innovative products, including industry-leading derivatives, options, and volatility products, tokenized stocks, and other services and products. The new entity will be headquartered in Switzerland with an additional regional headquarter in Cyprus, a reputed jurisdiction for Investment Firms, and provides regulated Firms access to the entire European Economic Area. Additionally, the company has also vowed on towards developing a strong working relationship with the appropriate regulatory authorities. “As we continue to grow, we are constantly looking at opportunities to become appropriately licensed and regulated in every market we enter. We’ll be interacting with regulators in various countries across Europe to continue to provide a safe and secure environment for people to trade crypto,” FTX Chief Executive Officer Sam Bankman-Fried said in the statement.

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Time Stamp: March 7, 2022