FTX Access launches as institutionals go crypto

Rick Steves

“Throughout our conversations with institutions seeking exposure to digital assets, they have vocalized a need for secure, transparent, and cost-effective execution, custody, and asset management services.”

West Realm Shires Services Inc. (FTX US) and FTX Trading Limited (FTX.COM) have announced the launch of FTX Access, a platform for institutionals, offering advisory services, index products, trade execution, analytical tools and capital introductions for institutional investors interested in gaining exposure to digital assets.

FTX Access plans to also include custody, derivatives, structured products, and other asset management products.

As part of the launch, FTX appointed Gustavo Miguel as the U.S. Head of FTX Access, who will be joined by Jon Cheesman, Global Head of FTX Access, who has been responsible for growing FTX’s OTC client services.

Gustavo Miguel joins FTX Access from Coinbase Risk Strategies, where he was a founding member and the Global Head of Derivatives. Before Coinbase, Miguel ran global trading at Passport Capital. His Wall Street career started at Morgan Stanley Institutional Equities.

Institutionals as a top priority for FTX

Sam Bankman-Fried, Chief Executive Officer of FTX, commented, “The role crypto plays in the global financial landscape continues to expand, and with that comes an influx of institutions looking to add crypto to their balance sheets. To make the transition into the digital asset ecosystem seamless for these institutions, we have launched FTX Access in order to provide these companies with familiar services. Our goal is to provide services that make it easier for traders at all levels to invest in cryptocurrencies, while also meeting compliance and regulatory standards found in traditional finance. We believe institutional interest in digital assets is accelerating so this is a great time to make it a top priority for FTX.”

Jon Cheesman, Global Head of FTX Access, said: “At FTX, we are always seeking to enhance and expand our offerings to meet client demand and FTX Access is the latest stage of that process. Throughout our conversations with institutions seeking exposure to digital assets, they have vocalized a need for secure, transparent, and cost-effective execution, custody, and asset management services. FTX Access has been designed to fit just that need. We are excited to bring these services to market and are looking forward to delivering our best possible services to our clients.”

 

Read this next

Retail FX

eToro is latest platform to suspend Terra’s LUNA, Binance resumes trading

Israeli social trading network eToro has become the latest platform to suspend trading on the Terra (LUNA) cryptocurrency in light of a market-wide downturn.

Industry News

UK court allows ThinkMarkets’ “obscure” B-book claims against IS Prime

“The Judge added that “Think did need to address the concerns expressed” as its counterclaim “suffers from a lack of detail, obscurity and potential inconsistency”.

Retail FX

Brazilian Broker XP launches crypto trading to 3.5M users

XP Inc (XP.O) is set to launch a crypto trading platform, dubbed ‘XTAGE’, as Brazil’s largest broker is looking to tap into the growing interest in trading bitcoin and other digital assets.

Retail FX

easyMarkets adds MT5 as demand for platform continues to grow

easyMarkets has joined a growing group of brokers in switching over to MetaTrader 5 (MT5), becoming the latest retail platform to incorporate the platform into its live trading infrastructure.

Institutional FX

SGX’s FX volume shines in a largely lackluster April

The Singapore Exchange (SGX) notched a healthy gain in its FX and indices volumes, despite seeing a wavering performance across commodity and securities segments.

Industry News

Devexperts webinar: Attracting retail traders with fractional trading

Following the successful webinar on introducing crypto to retail investors, Devexperts is returning to host a new one about fractional trading. 

Digital Assets

Relai to launch bitcoin debit card to unlock BTC via every purchase

To attract more retail investors to the crowdfunding project, Relai has promised 0% fees on transactions on the Relai app for those who invest €5,000 or more.

Digital Assets

Amid crypto meltdown, Tether reduces corporate debts in USDT reserves

Tether, which is closely affiliated with crypto exchange Bitfinex, has drastically reduced its holdings of commercial debt in its reserves over the last six months. Instead, the stablecoin issuer allocated most of its non-fiat reserves to Treasury bills, almost doubling assets in short-term government securities.

Industry News

TrustPay launches SEPA instant payments

” Our clients will now be able to make instant transactions with the immediate settlement of funds, which makes business more effective in today’s fast world.”

<