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FTX Launches a New Unit for an Institutional Investor Push -Breaking

by Mike Robinson

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FTX launches a new unit for institutional investors

The U.S.-based cryptocurrency exchange FTX announced that it is launching a new unit to gain institutional clients.

FTX pushes for institutional investors

FTX published an official press release on March 9th 2022 announcing the launch of FTX Access. This service bridges the gap between institutional-grade services and products to the market.

FTX Access initially will only provide advisory services, market execution and index products to institutional investors who are interested in gaining access to digital assets.

FTX Access also has the ability to explore other products for asset management, such as custody, derivatives, and structure products.

FTX further announced that Gustavo Miguel, an executive from Coinbase Global Inc., was appointed the U.S. Head for FTX Access. Miguel, a former executive at Coinbase Global Inc., will use his experience in institutional finance to oversee the development of FTX access U.S. operations.

This happened right after FTX’s global expansion was completed with the creation of FTX Europa.

Flipside

  • Gustavo Miguel is a former member of Coinbase, NASDAQ:) Risk Strategies. He was also the Global Head Of Derivatives.

What You Need to Care About

There has been competition among crypto platforms for institutional clients. The sector is gradually becoming mainstream. Developments such as this could push the cryptocurrency exchange FTX higher up the charts.

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