Cryptocurrency exchange FTX is quite a popular platform in the market of America.
Cryptocurrency exchange operator FTX Trading (cryptocurrency exchange FTX) is ready to start offering its cryptocurrency exchange services in Europe and the Middle East after it quickly became one of the most well-known platforms for trading digital assets in the United States. The services will be offered with a license, which the company obtains in Cyprus.
Cryptocurrency exchange FTX takes the course on European countries
The company said FTX Europe will offer products and services of the main company in the U.S. to customers from the European Union. It will do so through a partnership with a “licensed investment firm,” whose name the source did not specify.
FTX Europe will be headquartered in Switzerland, with permission from CySEC, the Cypriot financial regulator. However, the company will also have a regional base in Cyprus, the company said in a statement Monday, March 7.
FTX said its license in Cyprus will allow it to provide services and various cryptocurrency products in the European Economic Area through the continental passporting regime, which allows firms to operate across borders.
Official statements of the executive director of the exchange
“As we continue to grow, we are constantly looking for opportunities to obtain proper licensing and regulation in every market we enter,” FTX CEO Sam Bankman-Fried said in a statement.
“We will work with regulators across Europe. In order to continue to provide a safe and secure environment for cryptocurrency trading.”
What is a cryptocurrency exchange FTX?
FTX is a popular centralized cryptocurrency exchange, which was originally a Hong Kong exchange. Predominantly worked for the U.S. market. On this exchange you can, for example, buy, sell assets (engage in crypto-trading) on the spot market. And also to engage in leveraged trading and futures contracts.
This exchange has an attractive commission for deposits and withdrawals. Especially in comparison, for example, with other popular counterparts.
As a result, the entry of this exchange to the European market will allow more people to join the legal cryptocurrency market. Especially considering the current crisis situation all over the world.