A leading U.S. regulated cryptocurrency exchange FTX US announced it will make a strategic investment into IEX Group, an American equity exchange. Through this investment, the two companies plan to establish a simple and transparent market structure for buying, selling, and trading digital asset securities. The deal is expected to close next month.
With this latest agreement, IEX will assist FTX US to build a market structure and regulatory principles. The move is intended to protect the interests of investors and the general public as the crypto sector evolves, with increasing opportunities for U.S. participants.
FTX has long been working closely alongside regulators to set up an exchange that meets retail and institutional investors’ crypto asset trading needs in a regulatory compliant manner.
CEO of FTX and FTX US Sam Bankman-Fried expressed his opinion on this latest deal saying “Investing in IEX created a tremendous opportunity for FTX US. With this investment, we’re aligned with one of the most trusted and innovative companies in the equities markets.”
He also stated that the company will collaborate on the further establishment of the crypto market structure and work closely with regulators, allowing institutions around the world to enter the marketplace seamlessly.
Interestingly, Bankman-Fried who founded FTX in 2019, has recently pledged to donate all of his wealth, proving himself to be a crypto enthusiast Robinhood. Spending billions on himself isn’t something he’s interested in, but for sure he wants FTX to become the biggest source of financial transactions in the world.
CEO and Co-Founder of IEX, Brad Katsuyama also confirmed the partnership commenting – “The company wants to unlock its full potential by engaging with regulators and truly scaling what has been built.”
Further, he said that FTX and IEX were truly aligned on the future aspects of digital assets and the unique roles our firms could play as partners. The ultimate goal is to shape the market structure that can benefit the end investor.
FTX and IEX will reveal more information in the coming weeks. Also, the companies will soon introduce an initiative to join the conversation about the future of market structure for digital asset securities.
