Cryptocurrency derivatives exchange FTX has announced a strategic investment in the capital market company IEX Group to align with the dynamic regulatory environment.
The exchange notes that the move is to strengthen its worldwide digital markets, saying that it is a means of improving market structure in a regulated manner.
The deal, which is projected to close by May, did not disclose the amount invested but says that the company has become a notable stakeholder. The investment currently awaits regulatory approvals.
FTX CEO and founder Sam Bankman-Fried commented that the partnership enables the exchange to give institutional clients an ideal market entry. IEX Group runs Investors Exchange LLC.
Sam has welcomed regulations in the past, even advocating for tighter cryptocurrency policies terming them as good for the market. The executive requested CFTC to allow his exchange to clear margin derivatives directly.