FTX launches FTX Access

Former global head of derivatives at Coinbase has been appointed as the US head of FTX Access

Logo of FTX Trading on screen in front of business webpage                                 
FTX Access will offer custody, structured products, other asset management products - Photo: Alamy
                                

FTX, the cryptocurrency derivatives exchange has announced the launch of FTX Access, which will offer advisory services, index products, trade execution, analytical tools and capital introductions for institutional investors wishing to gain exposure to cryptos.

FTX Access will further explore offering custody, structured products and other asset management products.

Former Coinbase global head of derivatives to run US FTX Access

Former global head of derivatives at Coinbase – the largest cryptocurrency exchange in the US –  Gustavo Miguel, has been appointed as the US head of FTX Access. 

Miguel was also a founding member of Coinbase Risk Strategies. Prior to Coinbase, Miguel ran global trading at Passport Capital, a thematic investment firm.

Miguel started his career in Morgan Stanley Institutional Equities where he managed a proprietary portfolio, specialising in derivatives.  

The former global head of derivatives at Coinbase will be joined by Jon Cheesman, global head of FTX Access, who has been responsible for growing FTX’s over the counter (OTC) client services.

‘Make transition into digital asset ecosystem seamless’

Sam Bankman-Fried, CEO of FTX, said: “The role crypto plays in the global financial landscape continues to expand, and with that comes an influx of institutions looking to add crypto to their balance sheets. To make the transition into the digital asset ecosystem seamless for these institutions, we have launched FTX Access in order to provide these companies with familiar services.

“Our goal is to provide services that make it easier for traders at all levels to invest in cryptocurrencies, while also meeting compliance and regulatory standards found in traditional finance. We believe institutional interest in digital assets is accelerating so this is a great time to make it a top priority for FTX.”

Cheesman said: “At FTX, we are always seeking to enhance and expand our offerings to meet client demand and FTX Access is the latest stage of that process. Throughout our conversations with institutions seeking exposure to digital assets, they have vocalised a need for secure, transparent, and cost-effective execution, custody, and asset management services.

“FTX Access has been designed to fit just that need. We are excited to bring these services to market and are looking forward to delivering our best possible services to our clients.”

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