Former FTX US head secures $35 million investment for perpetual futures exchange for traditional assets
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- The Block reported that a startup founded by former FTX US head Brett Harrison, a perpetual futures exchange startup for traditional assets, has raised $35 million.
- The startup said it is focusing on applying exchange design methods used in the crypto market and the perpetual futures structure to traditional financial assets such as stocks and foreign exchange.
- The market noted that this funding could indicate the potential to expand trading structures developed in the crypto market into traditional finance.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
A startup founded by former FTX US head Brett Harrison that aims to build a perpetual futures exchange for traditional assets has raised $35 million.
On the 23rd (local time), according to crypto-focused media The Block, the startup Architect Financial Technologies (AX), led by Brett Harrison, recently closed a $35 million funding round.
AX aims to apply exchange design methods used in the crypto asset (cryptocurrency) market to traditional financial assets such as stocks and foreign exchange. In particular, it is focused on introducing the perpetual futures (perpetual futures) structure to the traditional asset market to enable 24-hour trading and an efficient margin structure.
Brett Harrison was involved in exchange infrastructure and market structure design during his tenure as head of FTX US, and after the collapse of FTX he has pursued a new exchange model that combines traditional finance and crypto market structures.
AX aims to work with regulators to offer perpetual futures trading within the traditional financial regulatory framework. The company believes that technologies and liquidity management structures proven in the crypto market can also be applied to traditional asset markets.
The market is paying attention to this funding round as it could lead to trading structures developed in the crypto market expanding into traditional finance.
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