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.
David is a crypto enthusiast and an expert in personal finance. He has created numerous publications for different platforms. He loves to explore new things, and that’s how he discovered blockchain in the first place.
