Architect Financial Technologies launches AX, a regulated exchange offering perpetual futures for traditional assets. Approved by Bermuda Monetary Authority.
- Architect launches a regulated perpetual futures exchange for traditional assets.
- Brett Harrison leads the project, raising $17 million.
- Bermuda Monetary Authority grants key regulatory approval.
Brett Harrison’s firm, Architect Financial Technologies, has launched a Bermuda-based exchange offering crypto-style perpetual futures on traditional assets, backed by Coinbase Ventures and Circle Ventures.
This innovation brings crypto derivatives’ flexibility to traditional markets, potentially enhancing trading accessibility but raising questions on interoperability with existing crypto platforms.
Brett Harrison’s Architect Financial Technologies launches AX, a regulated exchange for perpetual futures, based in Bermuda.
The platform integrates crypto-style trading with traditional assets, possibly affecting stablecoin demand and regulatory environments globally.
Architect Raises $17 Million for New Exchange
Architect Financial Technologies has unveiled the AX exchange, designed for perpetual futures on traditional assets. Former FTX US president Brett Harrison spearheads the project. “Architect is poised to enhance accessibility and trading capacity in traditional assets by offering perpetual futures, a product that merges the advantages of crypto-style trading with established financial markets,” says Brett Harrison.
The exchange has raised $17 million from key investors, including Coinbase Ventures, aligning with regulated financial practices in Bermuda.
Bermuda’s Regulatory Nod Sets Global Precedent
The introduction of perpetual futures impacts both crypto and traditional markets. Immediate effects on stablecoins are anticipated with increased adoption.
The exchange’s regulatory approval from the Bermuda Monetary Authority highlights Bermuda’s embrace of fintech, setting a potential global precedent.
Crypto-Style Futures Introduce New Market Dynamics
Crypto-style perpetual futures for traditional assets have no direct historical precedents. Past successes are mostly crypto-centric, prompting unique challenges.
While future implications remain speculative, increased stablecoin demand and regulatory adaptation can influence market dynamics, according to analysts.
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