Cryptocurrency exchange FTX will expand its global presence through the development of the European market.
The company created a division of FTX Europe, having received a license from the financial regulator of Cyprus.
“As we continue to grow, we are constantly looking for opportunities to obtain appropriate licenses for each market we enter,” said Sam Bankman-Fried, CEO and founder of FTX.
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The headquarters of the new organization is located in Switzerland, and the regional office is in Cyprus. The exchange will offer clients the services featured on FTX, including derivatives.
Recall that in January, FTX raised $400 million in a Series C funding round. The company's valuation reached $32 billion.