FTX has unveiled a new business geared towards institutional customers to meet Wall Street’s growing interest in cryptos, according to a report by PR Newswire on Wednesday.

  • The new unit, FTX Access, will target services areas, including index products, analytical tools, and advisory services for institutional-grade customers.
  • FTX Access seeks to grow its service coverage to incorporate exposure to crypto derivatives and other structured products for institutional clients.
  • Virtual asset custody and asset management services are other products set to be offered for the new business unit.
  • Gustavo Miguel will head the US division of the new business unit, with Jon Cheesman working as the global leader of FTX Access. Miguel is the former head of global derivatives at Coinbase.

FTX is launching an institutional client-targeted business division as part of its recent expansion plan by the crypto exchange giant. BTC USD down -6.86%, CRO up +0.96%