FTX, a cryptocurrency trading platform since 2012, is now licensed in Cyprus. The European Union’s newest member country has become very friendly to companies looking for the benefits of being regulated by a state-run agency that offers convenience and lower taxes than other regions.
Cypriot cryptocurrency regulators have given a license to FTX Europe, allowing the company to launch its own digital currency in the country.
FTX Trading Limited, a global cryptocurrency exchange, has secured a regulatory authorization to provide crypto goods in Europe. The Cyprus Financial Market Regulator, CySEC, has approved the crypto exchange, according to the company. As a consequence, consumers from around Europe may now trade a variety of crypto goods on the FTX Europe trading platform.
FTX Europe’s regional offices are in Cyprus, however the company’s primary headquarters are in Switzerland. The company’s objective is to extend its crypto goods and services across Europe and the Middle East, according to the company.
In Europe, FTX Will Enable Secure Trading
Patrick Gruhn, the head of FTX Europe, indicated that the firm is enthusiastic about the possibility to extend its capabilities in Europe as a result of the license. European investors and traders may now invest in various crypto derivatives using FTX’s best-in-class trading platform.
Sam Bankman-Fried, FTX’s Chief Executive Officer, also remarked on the situation. “We’re looking forward to launching our European operations in a controlled manner so that we can better assist folks on the continent,” he added.
Bankman-Fried went on to say that the crypto exchange is constantly searching for methods to develop and expand its offerings to other regions. He also said that the corporation would work with authorities in several European nations to ensure compliance with regulatory obligations. FTX aspires to provide the ideal atmosphere for traders to trade crypto on the European market safely and securely.
FTX is also venturing into the Asian market.
FTX Trading began as a cryptocurrency derivatives exchange. However, the company has extended its services to become one of the major cryptocurrency exchanges in terms of trading volume. FTX has a license to operate in the United States in addition to its European license.
FXT just raised $420 million in investment, putting the cryptocurrency exchange at $25 billion. The company’s U.S. subsidiary is presently worth $8 billion. Recently, the exchange has been active in the market, establishing a number of collaboration agreements in order to develop further. After purchasing the Japanese crypto exchange Liquid, it recently moved into the Asian market.
The “FTX Europe Takes Off After Securing License From Cyprus Regulator” is a story about how the FTX token has taken off after securing a license from the Cyprus regulator. Reference: ftx vs binance.
