One of the largest crypto exchanges has announced its new unit to bring institutional investors up to speed about the digital asset industry.
With cryptocurrencies gaining immense popularity and success over the past several years, financial institutions outside crypto have slowly started to enter the digital asset market, attempting to get the gist of its potential.
Based on the report by FTX US, the crypto exchange will be launching the FTX Access branch which will provide investors with insight into blockchain technologies, and the types of services that decentralized finance has to offer.
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Later on, the FTX Access platform will move towards digital asset management solutions, offering investors crypto derivatives and custodial services. With the initial tools offered to the investors, the FTX Access will seemingly act as a gateway for institutional investors to put the gained knowledge right into practice.
Gustavo Miguel, who was formerly the Global Head of Derivatives at Coinbase, will be leading the charge at FTX Access as his experience in institutional finance will enable the growth of the new FTX unit.
In fact, Miguel will be joined by FTX’s Head of Institutional Sales Jon Cheesman, who will be appointed as the Global Head of FTX Access. He spoke on the recent initiative to bring in institutional investors into the digital asset market, stating:
"Throughout our conversations with institutions seeking exposure to digital assets, they have vocalized a need for secure, transparent, and cost-effective execution, custody, and asset management services. FTX Access has been designed to fit just that need."
Likewise, the CEO of FTX Sam Bankman-Fried, or SBF, chimed in with his own insight into the goals of FTX Access, highlighting the transitional period of institutions wanting to move towards cryptocurrencies and the decentralized finance environment.
With the new initiative, SBF believes that the services provided by FTX access will "make it easier for traders at all levels to invest in cryptocurrencies, while also meeting compliance and regulatory standards found in traditional finance."
Alongside launching a platform for institutional investors, FTX has officially made its long-anticipated entrance into Europe by establishing headquarters in Switzerland and gaining approval from the Cyprus Securities and Exchange Commission (CySec) to operate within the region.
