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Finance

BGC Partners Expects to Launch Crypto Exchange by 2023 Q1

BGC Partners will launch a crypto exchange that can compete with larger competitors, CEO Howard Lutnick said at a conference Wednesday.

By Michael Bellusci
AccessTimeIconJun 8, 2022 at 10:20 p.m. UTC
Updated May 11, 2023 at 5:40 p.m. UTC
BGC will launch a crypto exchange no later than the end of 2023 Q1. (Sophie Backes/ Unsplash)
BGC will launch a crypto exchange no later than the end of 2023 Q1. (Sophie Backes/ Unsplash)
  • Global brokerage company BGC Partners (BGCP) plans to build a cryptocurrency exchange and launch it by the end of this year or the first quarter of 2023, CEO Howard Lutnick said Wednesday during Piper Sandler’s Global Exchange & Brokerage Conference in New York.
  • The initiative is among the latest moves by a traditional Wall Street firm in the crypto space.
  • Lutnick said he’s bullish on BGC adding a crypto offering, and the company can compete with global crypto exchanges given its technology and speed of BGC’s platforms.
  • In addition, Lutnick said he’s used to regulation. “So what,” Lutnick said regarding U.S. Securities and Exchange (SEC) Chairman Gary Gensler wanting to regulate the crypto sector.
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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.

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    Michael Bellusci

    Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

    Follow @mikeybellusci on Twitter