One of the largest crypto exchanges FTX announced Monday that it will be expanding its services into Europe following approval from financial regulators in Cyprus. FTX is one of the largest crypto exchanges currently in the United States and is known for its sponsorships of Major League Baseball and the Miami Heat’s NBA arena.
FTX will now allow Europeans to use the exchange via a licensed investment firm with passport licenses across the European economic area. The European division of FTX will be headquartered in Switzerland and will be similar to the American platform which has an over $8 billion valuation following a $400 million fundraise in January.
Following the announcement, CEO and founder Sam Bankman-Fried said that FTX is “constantly looking at opportunities to become appropriately licensed and regulated in every market [FTX] enter[s].”
Binance, one of the largest crypto exchanges in the world, also announced news for Europeans. As of March 7, the exchange has completely reopened their EUR and GBP bank transfer options for Europeans with SEPA and FPS (Faster Payment Services). Plus, to celebrate the return of Euro markets, Binance will be offering verified users zero fees on EUR or GBP deposits until March 31.
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