FTX Launches US Regulated Bitcoin Exchange in May

Hong Kong-based FTX cryptocurrency derivatives trading platform launched beta testing of a regulated Bitcoin trading platform in the United States. Its official launch is scheduled for May.

The FTX.US website indicates that the upcoming platform is registered as a financial services provider (MSB) on the Financial Crimes Enforcement Network (FinCEN). Exchange management is working on obtaining licenses of a money transfer service provider (MTL) in several states.

FTX.US will form an exchange cup separate from the main platform of FTX derivatives. Now trading in the US dollar against Bitcoin, Ethereum, Bitcoin Cash (BCH), Litecoin (LTC), Pax Gold (PAXG), and Tether (USDT).

The head of the bitcoin exchange Sam Bankman-Fried said that before the official launch of FTX.US, it will add other assets, fiat-cryptocurrency options, as well as margin trading for qualified investors.

FTX was launched in May 2019 and quickly broke into the TOP 10 crypto derivative sites. In the ranking of the analytical service CoinGecko at the time of writing, FTX is in fifth place with a trading volume of $ 447.7 million over the past day.

Recall that FTX intends to attract $ 15 million of investments in valuing the company at $ 1 billion. Last August, FTX received $ 8 million from Proof of Capital, Consensus Lab and other venture capital companies, selling them FTT exchange tokens. In December, FTX raised “tens of millions” from the Binance exchange, which also acquired FTT tokens.

Subscribe to ForkLog’s newsletter Twitter!

Found a mistake in the text? Highlight it and press CTRL + ENTER

subscribe to news Forklog


Leave a Comment