- Brett Harrison, former president of FTX US, is launching a new trading platform for institutional investors to trade futures and crypto assets.
- Architect Financial Technologies Inc. plans to cater to exchanges and trading entities including CME Group, Coinbase Global Inc., and Uniswap.
- The platform will offer clearing services for futures trades in collaboration with StoneX Group Inc. and Wedbush Financial Services LLC.
Brett Harrison, who led FTX‘s American arm until September of last year, is launching a new trading venture in the futures and cryptocurrency markets.
According to reports, the former FTX US president is launching a trading hub to bring futures and cryptocurrency trading to institutional investors. Harrison’s new venture comes nearly seven months after he left Sam Bankman-Fried’s crypto empire.
The New Trading Company will Provide Clearing Services for Futures Trades.
According to Bloomberg, Architect Financial Technologies will launch the new trading hub. Brett Harrison founded Architect Financial in January and served as its Chief Executive.
According to reports, Architect Financial’s new trading platform will use exchanges and trading venues such as Coinbase Global, CME Group, and DeFi exchange Uniswap.
Furthermore, the company intends to provide clearing services for futures trades. For this, Architect Financial has partnered with StoneX Group Inc. and Wedbush Financial Services LLC.
In an interview with Bloomberg, Brett Harrison stated that Architect Financial is based on his experience working at a crypto exchange and high-frequency trading firms.
The former FTX US president also stated, “One of the things I have learned is security and trust are paramount in building a trading platform. As we designed Architect, we have developed security features to ensure clients remain in control of private information such as wallets, keys, and account information.”
Client funds will not be managed or traded by the new trading hub. In the future, Architect Financial Technologies intends to expand into other asset classes, such as equities and options.
The company also intends to offer OTC trading through cryptocurrency exchanges such as Galaxy Digital and Wintermute.
According to Crunchbase, the company raised $5 million in its first funding round, which took place in January of this year. Coinbase Ventures and Circle Ventures were among those who participated in the funding round.
Famous crypto firms such as Coinbase Ventures and Circle Ventures participated in the initial funding round. Anthony Scaramucci and Motivate Venture Capital are among the other investors. Brett Harrison has appointed Karista Vaeth, a former FTX US senior counsel, as Architect Financial’s corporate counsel.
