FTX US Invests in IEX to Build Cryptocurrency Securities Trading Infrastructure

By | April 5, 2022



FTX US made a “strategic investment” in IEX Group (a US-based stock exchange). The collaboration will aim to set up a comprehensive and transparent market structure for dealing with digital asset securities.

FTX’s Newest Deal

The US branch of the global crypto exchange – FTX – continues to engage with large organizations to accelerate the development of the digital asset industry. Its latest agreement is with the American equities exchange – IEX Group – as the deal is expected to be finalized next month.

As per the deal, IEX will help FTX US build a market structure and regulatory principles to protect the interests of investors and the broad society as the crypto sector keeps evolving.

FTX US CEO – Sam Bankman-Fried – claimed that investing in IEX created a “tremendous opportunity” for his company. He further opined that the agreement aligned FTX US with some of the most innovative firms in equities markets.

“We will collaborate on the further establishment of crypto market structure and work closely with regulators, allowing institutions around the world to enter the marketplace seamlessly,” he added.

IEX was the first in its field to secure regulatory approval to operate with novel design features focused on customer protection. Its CEO and Co-Founder – Brad Katsuyama – opined that the crypto industry needs to engage with watchdogs to “unlock its full potential.”

He argued that the US market should be “the largest player in digital assets globally” as the partnership with FTX’s local branch could help facilitate that goal.

The organizations vowed to share more details on their collaboration in the coming weeks. They intend to invite all investors to join an upcoming conversation about the future of the market structure for digital asset securities.

FTX’s Previous Investment

A few weeks ago, the exchange’s venture arm invested $100 million in the publicly-traded banking app – Dave – to introduce cryptocurrency payments on the platform. As part of the agreement, FTX will serve as Dave’s exclusive partner for digital assets. Commenting on the endeavor was CEO Jason Wilk:

“This is an exciting milestone for our Company, our shareholders, and all Dave members. We believe blockchain technology has the potential to level the financial playing field across the globe. By aligning with a world-class leader such as FTX US, we are in a position to enter the digital asset arena, explore new growth opportunities, and improve the member experience.”

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