FTX Trading Limited ("FTX") a leading global cryptocurrency exchange, today announced the establishment of FTX Europe ("FTX Europe" or "the Company"), marking the next phase of the Company's global expansion, by extending its presence into Europe and the Middle East.
The Company has secured the approval from the Cyprus Financial Market Regulator CySEC through its ftx.com/eu domain.
FTX Europe will now start offering FTX's leading products and services to European clients via a licensed investment firm with passportable licenses across the European economic area. Users in these regions will be able to trade a variety of cryptocurrency products powered by FTX's industry-leading trading technology and digital asset offerings.
Sam Bankman-Fried, CEO & Founder of FTX, commented on the news, "We're excited to launch our European operations in a regulated fashion to better serve those within the continent. 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 Europe is currently headquartered in Switzerland, with an additional regional headquarter in Cyprus. Additionally, the Company will be devoting significant resources towards developing a strong working relationship with the appropriate regulatory authorities.
Patrick Gruhn, Head of FTX Europe, concluded, "We're excited to bring FTX's innovative offerings to the European markets and that CySEC officially approved our domain. Europeans will now be able to use FTX's best-in-class trading platform to invest in a wide range of cryptocurrencies derivatives thru a regulated investment firm."
Cyprus is a highly reputed jurisdiction for Investment Firms and provides regulated Firms access to the entire European Economic Area (which includes the European Union plus three countries). The approval of FTX's domain by the Cyprus CySEC to provide derivative services to European users also sets a new standard for Crypto Currency Exchanges in Europe.