FTX Buys Undisclosed Stake in IEX Stock Exchange
FTX and IEX Join Forces
According to an official press release, FTX US has signed an agreement to make a strategic investment in the IEX’s operator IEX Group to establish a market for buying, selling and trading digital asset securities. The collaboration aims to provide services for both retail and institutional investors.
Apart from the strategic investment, the two companies also plan to introduce a new initiative to invite all investors to join the conversation with regulators regarding the future of the market structure for digital asset securities.
"Investing in IEX created a tremendous opportunity for FTX US. With this investment, we're aligned with one of the most trusted and innovative companies in equities markets. As a result, we will collaborate on the further establishment of crypto market structure and work closely with regulators, allowing institutions around the world to enter the marketplace seamlessly," Sam Bankman-Fried, CEO of FTX and FTX US, said in the announcement release.
IEX exchange is the fifth-largest U.S.-based stock exchange operator after the NYSE, Nasdaq, CBOE, and MemX and the eighth largest stock exchange operator across the globe.
Additional details about how the companies plan to work together will be shared in the next few weeks.