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FTX Launches a New Unit in a Push for Institutional Investors

The cryptocurrency exchange FTX, alongside its U.S. operation, made an announcement that they are launching a new unit as a means of gaining institutional clients.

FTX Pushing for Institutional Investors

In an official press release published on March 9, 2022, FTX announced the launch of FTX Access, which essentially bridges institutional-grade products and services to the marketplace. 

FTX Access will initially only offer advisory services, index products, trade execution, analytical tools as well as capital introductions for any institutional investor that has an interest in gaining exposure to these digital assets.

Additionally, FTX Access can also further explore offering custody, derivatives, structure products as well as other asset management products.

Furthermore, FTX also disclosed that Gustavo Miguel, an ex-Coinbase Global Inc. executive, has been appointed as the U.S. Head of FTX Access. Within this role, Mr. Miguel will leverage his career in institutional finance to direct the growth of FTX Access’s U.S. operations.

This occurred right after FTX continued its global expansion with the establishment of FTX Europe.

On the Flipside

  • Before joining FTX Access, Gustavo Miguel was a founding member of Coinbase Risk Strategies, and he was the Global Head of Derivatives there. 

Why You Should Care

Crypto platforms have seen an increase in competition when it comes to institutional clients, as the sector has gradually gone mainstream, and developments such as these could put the cryptocurrency exchange FTX further on top.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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    Author

    Milko Trajcevski has been in the crypto world for years, and as such has gathered both a skill for writing as well as a native prowess when it comes to understanding everything that occurs within that world. Through skilled writing and determination, he covers articles about cryptocurrency, tokens, blockchain, crypto-asset regulations, crypto wallets, exchanges, liquidity, DApps, forks, mining, security, and blockchain technologies. He is a professional with a track record of proven expertise within the crypto space.