On Wednesday, wholesale brokerage BGC Partners Inc’s (BGCP.O) Chief Executive Officer Howards Lutnick announced that the company will be building a cryptocurrency exchange. If built, the exchange will be competing with long-standing crypto exchanges such as Binance, FTX, and Coinbase.
The brokerage announced during the end of 2021 that they would also be creating an exchange for traditional assets in the U.S.
Lutnick announced that the exchange will be ready for operation by the first quarter of 2023 at a financial industry conference in New York held by Piper Sandler.
