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Finance

Crypto Exchange FTX Sets Up European Unit

The new division is based in Switzerland, with an additional base in Cyprus.

By Jamie Crawley
AccessTimeIconMar 7, 2022 at 9:35 a.m. UTC
Updated May 11, 2023 at 5:57 p.m. UTC
FTX CEO Sam Bankman-Fried (CoinDesk TV screenshot)
FTX CEO Sam Bankman-Fried (CoinDesk TV screenshot)

Two years after the launch of FTX.US, cryptocurrency exchange FTX has established a European equivalent licensed in Cyprus.

  • The European domain of FTX's platform (ftx.com/eu) has won approval from the Cyprus financial market regulator, CySEC, the exchange announced Monday.
  • FTX Europe will offer products and services across the European Economic Area through an unidentified investment firm licensed to operate across the region.
  • The division is headquartered in Switzerland, with an additional base in Cyprus.
  • FTX Europe will seemingly be the crypto exchange's European equivalent of FTX.US, which was launched to American users in 2020 and now boasts an $8 billion valuation following a $400 million fundraise in January.
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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter
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