Crypto derivatives exchange FTX has just announced the launch of FTX Australia Pty Ltd in Australia as part of its global expansion.
According to the press release shared by the company, the company is headquartered in Sydney. FTX Australia is licensed to offer financial services and offers users a full range of exchange and over-the-counter products as well as derivatives.
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Sam Bankman-Fried, founder and CEO of the platform, has said of the creation of the division:
"As in other jurisdictions within which we operate, significant resources have been allocated to proactively engage with local regulators. We look to be a participant in policy discussions globally and will seek to continue this same level engagement locally through FTX Australia."
He has announced the opening of the division at the Australia Blockchain Week conference. Bankman-Fried has noted that other jurisdictions in the Asia-Pacific region "have not lived up to expectations" as a regional hub.
Bankman-Fried has said in an interview with the Financial Review the exchange already has a small team in Australia. The workforce is expected to double due to the hiring of developers, operators and marketing specialists.