FTX, the Bahamian crypto exchange founded by Samuel Bankman-Fried has introduced FTX Access which will focus on certain areas like advisory services, analytical tools, inventory products, and capital introductions for institutional investors who desire to gain exposure in digital assets, according to an announcement made on Wednesday.
The new business combines the expertise behind FTX.com and FTX.US to provide institutional clients with frictionless access to digital assets, products, and markets globally. They also have intentions to improve its service coverage to comprise exposure to crypto derivatives as well as several products for huge investors.
Gustavo Miguel, previously a founding member of coinbase risk strategies, has been appointed to lead the US division of the new business together with Jon Cheesman, Global Head of FTX Access.
FTX Global is on a mission to provide best-in-class on-demand, creative, technical, and design experts to help clients to be unique in the market. It’s also the firm’s intention to make sure that institutions who are seeking exposure in digital assets get secure, transparent, cost-effective execution and asset management services.
FTX Access is also launched for the sole reason of making things easy for companies who want to add crypto to their balance sheets. Their goal is also to provide services that make it easy for anyone to invest in cryptocurrencies without neglecting the standard rules in traditional finance.
The exchange’s client-focused business is the latest addition to its expansion. Last year the exchange averaged $10 billion of daily trading volume and had over one million users.
Earlier this year the exchange announced a $2 billion venture fund named FTX Ventures afterward raised $400million in a Series C funding at a $32 billion valuation. FTX US also announced in February that the company will start offering stock trading and also create a gaming division that will assist video game developers to offer chain-based technologies like cryptocurrency and NFTs.
FTX US offers nearly 60 cryptocurrencies and currency spot trading pairs, along with options contracts denominated in Bitcoin and Ether. Additionally, the FTX brand offers cryptocurrency swaps and Bitcoin mini futures. It also operates a marketplace for Non-Fungible Tokens (NFT).