Former FTX US chief Brett Harrison to launch crypto, futures trading hub
- Former FTX US president Brett Harrison to launch a new trading hub for futures and crypto for institutional investors.
- The new venture will offer clearing services and OTC trading through crypto market makers like Galaxy Digital.
Brett Harrison, the man who was at the helm of FTX’s American arm till September last year, is taking on the futures and crypto trading market with a new trading venture.
The former FTX US president is reportedly launching a trading hub to bring futures and crypto trading to institutional investors. The new venture comes almost seven months after Harrison exited Sam Bankman-Fried’s crypto empire.
New trading venture to offer clearing services for futures trades
According to a report by Bloomberg, the new trading hub will be launched by Architect Financial Technologies. Architect Financial was founded by Brett Harrison in January, and he also serves as the Chief Executive.
Architect Financial’s new trading platform will reportedly tap into exchanges and trading venues including Coinbase Global, CME Group and DeFi exchange Uniswap.
Furthermore, the venture is planning to offer clearing services for futures trades. Architect Financial has teamed up with StoneX Group Inc. and Wedbush Financial Services LLC for the same.
In an interview with Bloomberg, Brett Harrison stated that he’s drawing on his experience from working at a crypto exchange and high-frequency trading firms to build Architect Financial.
The former FTX US president added:
“One of the things I have learned is security and trust is paramount in building a trading platform. As we designed Architect we have come up with security features to ensure clients remain in control of private information such as wallets, keys, and account information.”
The new trading hub will not manage or trade any client funds. Architect Financial Technologies plans to branch out to other asset classes like equities and options in the future.
The firm also plans to offer OTC trading through crypto market makers like Galaxy Digital and Wintermute. The firm raised $5 million in January 2023.
The initial funding round saw participation from popular crypto firms like Coinbase Ventures and Circle Ventures. Brett Harrison has hired former FTX US senior counsel Karista Vaeth to serve as the corporate counsel of Architect Financial.