Cryptocurrency Exchange FTX Enters The European Market

Cryptocurrency exchange FTX enters the European market. FTX is getting ready to serve European customers by getting approval from Cyprus' financial regulator.

FTX has decided to expand its services to Europe. The exchange has obtained regulatory license from the Cyprus Securities and Exchange Commission (CySEC) to serve its European clients as well. Thus, FTX will offer its products through a licensed investment firm in the European economic zone. In addition, the headquarters of the new organization, known as FTX Europe, will be located in Switzerland. A regional center will also be established in Cyprus. FTX CEO Sam Bankman-Fried used the following statements on the subject: “As we continue to grow, we are constantly looking for opportunities to be appropriately licensed and regulated in every market we enter. We will engage with regulators in various countries across Europe to continue to provide a safe environment for people to trade crypto.” Finally, FTX completed its $400 million Series C investment round in January. Together with this financing sense, the exchange had reached a valuation of $ 25 billion.