One of the first companies to be licensed to operate a cryptocurrency exchange in Cyprus is FTX. According to a company announcement FTX Europe will offer services across Europe with a license from the Cyprus Securities and Exchange Commission (CYSEC).
This is an important development for the small Mediterranean island as it paves the way for other cryptocurrency exchanges to come to the island.
The press release states: “FTX Trading Limited (“FTX”) a leading global cryptocurrency exchange, announced on March 7, 2022 the establishment of FTX Europe (“FTX Europe” or “the Company”), marking the next phase of the Company’s global expansion, extending its presence in Europe and the Middle East. The Company has secured approval from the Cyprus Securities and Exchange Commission to operate ftx.com/eu.
FTX Europe will now begin offering FTX products and services to European clients through a licensed investment firm across the European financial space. Users in these regions will be able to trade a variety of cryptocurrency products powered by FTX’s industry-leading trading technology and digital asset offerings.”
“We are excited to launch our European operations in a regulated manner to better serve our clients within the continent. As we continue to grow, we are constantly looking for opportunities to obtain the right licenses in each market we enter. We will interact with regulators in various countries across Europe to continue to provide a safe and secure environment for people to trade cryptocurrencies.”
– Sam Bankman-Fried, CEO and Founder of FTX
FTX Europe is currently headquartered in Switzerland, with an additional regional office in Cyprus. In addition, the company will devote significant resources to developing strong working relationships with the relevant regulatory authorities.
“We are excited to bring FTX’s innovative offerings to the European markets and that CySEC has officially approved our domain. Europeans will now be able to use FTX’s best-in-class trading platform to invest in a wide range of cryptocurrency derivatives through a regulated investment firm.”
– Patrick Gruhn, Head of FTX Europe
FTX Europe, with its holding company in Switzerland, is the Europe and Middle East division of FTX, a cryptocurrency exchange created by investors, for investors.
Through FTX Europe, users in the European Economic Area and the Middle East can access FTX’s innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks and other services and products.
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