Key Takeaways
- Architect Financial Technologies, led by former FTX US chief Brett Harrison, plans to bring perpetual futures trading to traditional financial assets.
- Harrison says the market structure will mirror the design of crypto-derivatives, but with a focus on regulated and traditional markets.
Brett Harrison, ex-president of FTX US, is set to launch perpetual futures for traditional assets such as stocks and commodities, via his new company, Architect Financial Technologies, Bloomberg reported Wednesday.
The firm’s Bermuda-based exchange, AX, will launch perpetual futures contracts for a wide array of traditional markets, from metals and energy to stock indexes and currencies. Architect has secured approval from the Bermuda Monetary Authority to operate its venue.
The platform intends to mimic the market structure of crypto derivatives but apply it to conventional asset classes, enhancing trading capacity and accessibility. Architect’s venue will operate continuously, allowing global access, and will accept both fiat and stable coins as collateral.
The startup is currently in its Series A funding round, having already raised $17 million from backers like Coinbase Ventures, Circle Ventures, and Anthony Scaramucci’s SALT Fund.
Source: https://cryptobriefing.com/ex-ftx-brett-harrison-new-perpetual-platform-ax/
