Crypto exchange FTX secures CySEC approval to operate in Europe

Global cryptocurrency exchange FTX Trading Limited today revealed establishing FTX Europe. The move extends the company’s presence into Europe as part of the its global expansion strategy. FTX has obtained approval from the Cyprus Financial Market Regulator CySEC

FTX Europe will start offering company products and services to European clients passporting its CySEC license.  Users in the the European economic area will be able to trade a variety of cryptocurrency products powered by FTX’s trading technology and digital asset offerings.

Sam Bankman-Fried, CEO & Founder of FTX, commented:

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.

Currently headquartered in Switzerland, FTX Europe has an additional regional headquarter in Cyprus. The company noted that it will devote “significant resources” in developing strong relationship with the 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.

Read Also: