GIBRALTAR, Sept. 17, 2021 /PRNewswire/ -- FTX Trading Limited ("FTX" or "the Company"), a leading global cryptocurrency exchange, today announced that its Gibraltar subsidiary, Zubr Exchange Limited, owner and operator of ZUBR, a Gibraltar-based digital asset derivatives exchange ("ZUBR") received authorisation from the Gibraltar Financial Services Commission (GFSC) as a DLT provider.
Sam Bankman Fried, CEO & Founder of FTX, commented on the news, "We're excited that ZUBR is now fully licensed under one of the world's first crypto regulatory frameworks. Securing this DLT provider license for our subsidiary is a key step toward our goal of creating a trustworthy and compliant exchange group that can be used by investors of all types around the globe."
After acquiring ZUBR's parent company earlier this year, FTX worked closely with the ZUBR team and local advisors in Gibraltar to perfect the in-principle approval previously granted to ZUBR. The acquisition also allows FTX to expand its team of developers, which will work on enhancing the underlying technology, infrastructure, and products offered by both ZUBR and FTX.
Oleg Ravnushkin, Co-Founder of ZUBR, added, "I'm excited that our team is joining the FTX family as we share the same mission of providing a best-in-class, compliant platform for traders of all types. The ZUBR team is excited to leverage its own expertise in the digital asset space in line with FTX's goal to become one of the top cryptocurrency exchanges in the world."
FTX has already begun to integrate the ZUBR team in the months following the acquisition. ZUBR will maintain its local presence and operational autonomy in line with the DLT provider license requirements. Additionally, the Company will be devoting significant resources towards developing a strong working relationship with the GFSC.
FTX.COM is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk. FTX.COM strives to be an intuitive yet powerful platform for all kinds of users, and to be the most innovative exchange in the industry. FTX.COM has grown quickly since its founding, becoming one of the most respected cryptocurrency exchanges in the world in less than 2 years.
FTX.COM is not available to US residents or residents of other prohibited jurisdictions, as set out in its Terms of Service.
ZUBR is a crypto derivatives platform aimed at trading participants with increased requirements for stability and speed in an exchange, regardless of the market activity.
With the values of the traditional financial services industry, combined with the latest breakthrough technology, ZUBR leads the way in evolving the crypto derivatives trading industry into a regulated and truly professional environment, which encourages every party to be its best. This means opposing unfair maker/taker pricing models, offering free professional trading tools, and presenting sensible leverage options.
With speed and security at its core, ZUBR's mission is to provide a robust, industry-grade service for demanding and technologically advanced market players seeking a fair and reliable gateway to digital assets.
ZUBR was co-founded by Oleg Ravnushkin and Sergey Yakubanets. ZUBR received an in-principle approval for its DLT Provider license (Gibraltar) in May 2020.
As well as providing its service to professional traders, ZUBR frequently conducts market research for all investor types. You can find all previous research papers here.