Two years after the debut of FTX US has launched a European equivalent licensed in Cyprus. According to an announcement made by the exchange on Monday, the European domain of FTX’s platform (ftx.com/eu) has been approved by CySEC, the Cyprus financial market regulator.
- FTX Europe will now provide FTX’s outstanding products and services to European customers through a licenced investment business with passportable licences within the European Economic Area.
- Users in these locations will be able to trade a wide range of cryptocurrency products that will be powered by FTX’s industry-leading trading technology and digital asset offerings.
- FTX Europe is now based in Switzerland, with a regional office in Cyprus.
- The company will devote substantial resources to forging excellent working relationships with the necessary regulatory bodies.
FTX’s CEO and Founder, Sam Bankman-Fried, remarked on the development, saying, “We’re delighted to begin our European operations in a controlled manner in order to better assist consumers on the continent.” As we expand, we are continuously seeking possibilities to become properly registered and regulated in each region we enter. We will continue to work with regulators in many countries across Europe to ensure a safe and secure environment for users to trade cryptocurrency.
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