Cryptocurrency exchange FTX has unveiled a new division based in Switzerland and Cyprus, expanding its derivative services in the region.
FTX Europe will serve clients in the European Economic Area and the Middle East with derivatives, options, and tokenized stock offerings.
The exchange notes that the European domain, ftx.com/eu, has been approved by Cyprus’ CySEC. The approval of the exchange’s derivative services in Europe sets a standard in the continent.
European clients will trade multiple cryptocurrency products leveraging FTX trading technology and the available digital assets in the locations.
FTX Europe is expected to register similar gains as FTX.US, which was launched in 2020 and has grown to a valuation of $8 billion.
FTX founder Sam Bankman-Fried welcomes the announcement as an opportunity for the exchange to establish its European presence in a regulated manner. Sam also expressed interest in taking advantage of similar opportunities in other jurisdictions.
Source: PR Newswire