FTX subsidiaries obtained licenses in Gibraltar and the Bahamas – Bits Media

Zubr Exchange и FTX Digital Markets, owned by FTX cryptocurrency exchange, received licenses to operate in Gibraltar and the Bahamas.

How
The Block reports, at the beginning of the year, FTX acquired Gibraltar-based cryptocurrency derivatives exchange Zubr Exchange, but information about this deal appeared quite recently. Zubr Exchange has received a license from the Gibraltar Financial Services Commission (GFSC). This will allow the site to function as a service provider, working with distributed ledger technology (DLT).

Regarding the Bahamian platform FTX Digital Markets, it is licensed by the Bahamas Securities Commission under the Registered Exchanges Act to trade digital assets (Digital Asset Registered Exchanges Bill, DARE Act). As part of expansion in the Bahamas, Former Alameda Research head of over-the-counter trading Ryan Salame has been appointed CEO of FTX Digital Markets (Ryan Salame). In the future, FTX Digital Markets plans to attract finance and marketing specialists, as well as engineers.

"I'm very glad “set flag” FTX in the Bahamas, We will now be able to work closely with regulators. It gives me confidence, that our proposals comply with regulatory requirements", - Salameh said.

FTX.US is set to complete its acquisition of derivatives exchange LedgerX in October.. Previously, FTX Exchange CEO Sam Bankman-Fried (Sam Bankman-Fried) stated, that cryptocurrency derivatives are important for increasing market liquidity, however, their potential is underestimated. Bankman-Fried believes it is necessary to maintain "good relations" with regulators, as this will promote the development of the cryptocurrency industry.