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FTX US Joins International Swaps and Derivatives Association
The crypto exchange plans to work with the association to build up crypto derivatives markets in the U.S. and around the world, CEO Sam Bankman-Fried tweeted.
Cryptocurrency exchange FTX’s U.S. subsidiary is now a member of the International Swaps and Derivatives Association (ISDA), FTX Trading CEO Sam Bankman-Fried wrote in a tweet Thursday.
- The ISDA has more than 960 member institutions from 78 countries, according to its website. Members include corporations, investment managers and regional banks. The ISDA, which was started in 1985, says it helps “make the global derivatives markets safer and more efficient.”
- FTX, which specializes in offering derivatives to its global customers, has been making a major push to also offer them to its U.S. customers with its acquisition of Ledger X, which it has renamed FTX US Derivatives.
- ”We are looking forward to working alongside ISDA and their CEO Scott O’Malia as we continue to build up crypto derivatives markets in the United States and globally,” Bankman-Fried added in the tweet.
- FTX didn’t immediately respond to a request for additional comment for this story.
We’re excited to announce that FTX US is now a member of @ISDA. We are looking forward to working alongside ISDA and their CEO @ScottOMalia as we continue to build up crypto derivatives markets in the United States and globally.
— SBF (@SBF_FTX) December 9, 2021
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Read more: Bankman-Fried Says Stricter Regulation of Crypto Exchanges Would Be Positive
Michael Bellusci
Michael Bellusci is a former CoinDesk crypto reporter. Previously he covered stocks for Bloomberg. He has no significant crypto holdings.
