Brett Harrison, former president of FTX US, has launched the regulated exchange AX through Architect Financial Technologies for trading crypto-style perpetual futures on traditional assets.
AX's innovative approach merges crypto and traditional finance, potentially reshaping market dynamics with 24/7 trading and regulatory compliance. Early institutional involvement indicates strong market interest.
Launch Details
Brett Harrison has introduced the AX exchange, merging crypto-style perpetual futures with traditional asset trading. After his tenure at FTX US, Harrison aims to innovate the trading landscape with this regulated exchange.
Involved entities include Architect Financial Technologies and leading investors like Coinbase Ventures. The exchange is designed to integrate capital efficiency and regulatory oversight, setting a new standard for trading both traditional and crypto assets.
Market Impact
The launch impacts financial markets, offering a new model for trading. Institutional clients can now access perpetual contracts on stocks, metals, and currencies, potentially altering industry dynamics. The platform claims regulatory compliance via the Bermuda Monetary Authority.
Financial implications include ongoing Series A funding, attracting $17 million from prominent investors. By offering perpetuals for non-crypto assets, AX challenges existing exchange paradigms, marking a fusion of traditional finance and crypto markets.
"The @Architect_fi team and I are excited to announce the launch of AX, the world's first centralized and regulated exchange for perpetual futures on traditional assets: FX, single stocks, ETFs, stock indexes, interest rates, metals, energy, and more." — Brett Harrison, Founder & CEO, Architect Financial Technologies
Institutional Adoption
AX’s introduction may facilitate institutional adoption in crypto-style futures trading. With its focus on centralized, regulated operations, the exchange expands the financial toolset available to institutions, though its full impact remains to be seen.
Market outcomes could see heightened interest in perpetual futures for non-crypto assets. Future regulatory scrutiny may follow due to this hybrid model, but Harrison’s strategy suggests a potential shift toward diversified, round-the-clock trading in various asset classes.