Crypto exchange FTX plans to expand its global presence by entering the European market, according to the press release that has been shared by the company.
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To this end, the company has created the division FTX Europe and has received a license from the financial regulator of Cyprus. The exchange CEO Sam Bankman-Fried said:
"As we continue to grow, we are constantly looking at opportunities to become appropriately licensed and regulated in every market we enter."
The headquarters of the new organization is located in Switzerland, while the regional office is in Cyprus.
In addition, the company will devote resources towards developing a strong relationship with the regulatory authorities.
According to the company, the exchange will offer its users all the services featured on FTX, including crypto derivatives.