Crypto exchange FTX targets institutional investors with launch of new unit

New FTX Access platform will provide execution, index, analytics and advisory services to institutional investors interested in gaining exposure to digital assets.

Crypto exchange FTX Trading, and US based crypto platform West Realm Shires Services have launched a new unit targeted at institutional investors.

FTX Access will initially provide institutional investors interested in gaining exposure to digital assets with trade execution, analytics, index products, advisory services  and capital introductions, with plans to expand into custody, derivatives, structured products and other asset management products later down the line.

“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,” said Sam Bankman-Fried, chief executive of FTX.

“We believe institutional interest in digital assets is accelerating so this is a great time to make it a top priority for FTX.”

Gustavo Miguel has been appointed as the US head of the new institutional unit and will be responsible for directing growth of its US operations and bringing new products to market. He will work alongside global head of FTX Access, Jon Cheesman, who has been responsible for growing FTX’s over the counter (OTC) client services.

Before joining FTX Access, Miguel was a founding member of Coinbase Risk Strategies, where he also served as global head of derivatives. Prior to that, he ran global trading at thematic investment firm Passport Capital.

“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,” said Cheesman. “FTX Access has been designed to fit just that need.”

The launch follows FTX Trading expanding into Europe and the Middle East earlier this month with the establishment of FTX Europe.