FTX US to invest in IEX stock exchange to launch digital securities

FTX US to invest in IEX stock exchange to launch digital securities

Sam Bankman Fried’s cryptocurrency exchange FTX continues to invest in traditional finance. The United States-based affiliate FTX US invests in Investors Exchange, a U.S. stock exchange.

FTX US announced Tuesday to Cointelegraph that it has reached an agreement with IEX Group’s operator IEX Group in order to jointly create a market structure to buy, sell, and trade digital asset securities.

IEX and FTX US anticipate closing the deal in May 2022. However, regulatory approval and customary closing conditions must be met.

This new partnership will provide services to institutional and retail investors. IEX plans to continue to use its existing market structure as well as its regulatory principles.

FTX CEO Bankman-Fried and FTX US CEO Bankman – Fried both pointed out that the cooperation with IEX will contribute further to the establishment and operation of the crypto market structure as well as cooperation with regulators. He said that he is a long-time fan of Brad Katsuyama, CEO of IEX,’s vision for a fair exchange.

“Investing in IEX created a tremendous chance for FTX USA. We are now aligned to one of the most innovative and trusted companies in the equities market.

Katsuyama, IEX CEO and co-founder, stressed that the partnership between FTX and the U.S. aims to make the United States the global leader in digital assets through dialogue with regulators. He stated:

“To unlock its full potential, crypto and digital asset industries must engage with regulators […] We see regulators as valuable allies in providing a clear pathway forward and attaining highest standards of investor protection.

FTX and IEX will also introduce a new initiative to invite all investors to participate in the discussion with regulators about the future market structure for digital assets securities. They will provide further details on the project in due course.

Both FTX US and FTXX have been investing in traditional finance lately. Last month, FTX Ventures, FTX US’s venture capital arm, invested $100 million in Dave mobile banking app. This was in conjunction with FTX US partnering for crypto payments.

Related: FTX Crypto Exchange wins Dubai License to Open Local Headquarters

TechCrunch reports that FTX is also in discussions to invest in Indian gaming startup Mobile Premier League, as it prepares for a second push in the Web3 market.

Cointelegraph reached out FTX for more information. We will update the article if we have new information.

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