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FTX.US to offer derivative trading services soon

Updated: Jul 25, 2024
Published: Aug 13, 2021
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FTX.US wants to expand its services to include cryptocurrency derivatives and intends to launch this in less than a year.

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FTX.US plans to launch derivatives trading services in less than a year

FTX.US, the US arm of leading cryptocurrency exchange FTX, has announced that it intends to start offering crypto derivative services in less than a year. The exchange has already lined up ways to achieve this over the next few months.

The president of the exchange, Brett Harrison, revealed this during an interview with Business Insider. According to the president, FTX.US wants to offer the services to its users over the next few months.

He stated that "We definitely hope to be able to offer them inside of a year. Quite frankly, we could have or should have started a long time ago, but we're definitely interested in going through the process and collaborating with the CFTC to be able to offer those products in the US."

He added that FTX.US wants to achieve this via two possible routes; through a de novo - which involves applying for a license from scratch - or through acquiring a firm. Harrison explained that FTX.US is exploring both options but failed to disclose any information on possible acquisitions.

FTX surpasses $18 billion valuation

FTX is one of the leading cryptocurrency exchanges in the world. The exchange raised $900 million last month in an investment round led by Coinbase Ventures, Softbank, the Paul Tudor Jones family, VanEck, Circle, and Alan Howard.

Following the fundraising, FTX is now valued at $18 billion, making it one of the most valuable crypto exchanges in the world.

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