FTX cryptocurrency exchange has launched a service aimed at institutional investors called FTX access. As a part of the newly launched corporate-oriented product, FTX will offer its clients advisory services, specialized analytical tools, crypto custody, and a plethora of asset management products.
Key takeaways:
- According to Wednesday’s press release, FTX Access will be helmed by Gustavo Miguel, who previously worked as the Global Head of Derivatives at Coinbase and, before that, as a portfolio manager at Morgan Stanley.
- “To make the transition into the digital asset ecosystem seamless for these institutions, we have launched FTX Access in order to provide these companies with familiar services,” commented Sam Bankman-Fried, the founder and CEO of FTX.
- FTX has been rapidly expanding its business empire over the past couple of months. At the start of 2022, the exchange launched a dedicated venture capital unit with $2 billion to deploy in various Web3 companies.
- In February, FTX launched FTX Gaming to boost the GameFi sector and entice more game developers to embrace blockchain-based solutions.
- Last week, the company launched CySEC-regulated FTX Europe to expand its presence in Europe and the Middle East with improved spot and derivatives trading offerings.
- The rapid expansion and backing of prominent investors had helped FTX raise $400 million in its latest fundraising round, which valued the company at a whopping $32 billion.
- In light of recent developments, FTX’s native token FTT has seen a persistent price increase over the past couple of months. At press time, the token was trading at $40.41, up more than 20% in the last three months.
