FTX Europe Obtains CYSEC CIF License to Expand Services in Europe

FRIENBACH, Swiss, September 15, 2022 /PRNewswire/ — FTX Europe (“FTX EU” or “the Company”) announced today that it has received approval from the Cyprus Securities and Exchange Commission (CySEC) to operate as Cyprus (CIF) allowing the Company to hold 100% of the local investment company that it previously acquired.

Patrick Gruhnhead of FTX Europe, commented on the news: “After launching our European operations earlier this year, we are delighted to receive regulatory approval in Cyprus. Operating under this license will contribute to our goal of being a European entity regulated to the highest standards. We look forward to continuing our productive relationship with CySEC as we continue to expand our European offerings.”

The Cypriot Investment Firm License granted by CySEC will require FTX EU to adhere to rigorous financial standards under the European Markets in Financial Instruments Directive 2014/65/EU (commonly referred to as the “MiFID II” framework), which include client segregation and protection. funds, full transparency of its business operations and capital adequacy controls. With the Cypriot investment firm license, FTX EU is able to service the entire European Economic Area. FTX is the only crypto exchange in the world to provide a full suite of exchange services under a full MiFID II license, which is subject to much higher standards than local registrations as crypto asset service providers.

Sam Bankman FriedCEO and Founder of FTX, concluded: “Receiving this license in the European Union is an important step in achieving our goal of becoming one of the most regulated exchanges in the world. We continue to work with the CySEC and regulators around the world for leading the digital asset industry when it comes to meeting the financial standards expected of traditional financial institutions.”

Cyprus is a highly reputable jurisdiction for investment firms and offers regulated firms access to the entire European Economic Area also known as the “passport” which includes the member states of the European Union, Iceland, Liechtensteinand Norway. FTX Europe currently offers the main products and services of FTX to European clients through a licensed investment company with passportable licenses throughout the European Economic Area.

About FTX Europe

FTX Europe with its holding in Swissis Europe and Middle East division of FTX, a cryptocurrency exchange built by traders, for traders. Through FTX Europe, users in the European Economic Area and the Middle East can access FTX’s innovative products, including derivatives, options and volatility products, token stocks, and other services and products.

To learn more about FTX Europe & MENA, please visit: https://ftx.com/eu

Media Contact

Pete Padovano
Group M Strategic Communications (for FTX)
+1 646 859 5953
ftx@mgroupsc.com

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SOURCE FTX Europe

Mary I. Bruner