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FTX establishes FTX Europe marking a solid entry in the region

Updated: Jul 25, 2024
Published: Mar 7, 2022
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Bahamian cryptocurrency exchange platform FTX Trading Limited announced that it is establishing "FTX Europe," the European and Middle East division of the company.

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CySEC approves FTX Europe

FTX, which aims to boost global expansion, has secured approval from the CySEC, Cyprus Financial Market Regulator, via its ftx.com/eu domain.

As a result of the move, the European clients would have access to FTX's products and services through a licensed investment company that has passportable licenses across the European economic area. Users will be able to trade a number of crypto products powered by FTX's digital asset offerings and technology.

The new trading division is currently headquartered in Switzerland along with a regional headquarter in Cyprus. The company will be dedicating unique resources for the development of a strong working relationship with necessary regulatory bodies.

According to Patrick Gruhn, Head of FTX Europe, Europeans will now be able to participate in a wide range of cryptocurrency derivatives through a regulated financial firm using FTX's "best-in-class trading platform."

FTX expansion mission

FTX is aiming for massive expansion. In February, the exchange acquired the Japan-based crypto exchange Liquid Group to serve Japanese users through its new subsidiary.

While commenting on the company's expansion, the CEO and founder of FTX, Sam Bankman-Fried, stated in the announcement that the company is aiming the growth in other countries and is talking to regulators in multiple nations across Europe. He stated:

"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."
The United States division of FTX has also revealed that it is planning to launch a platform for trading stocks.

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