Major cryptocurrency exchange FTX.US has acquired a significant stake in stock exchange IEX Group, according to a Coindesk report.
- An FTX Spokesperson said the investment will make the firm a “significant” shareholder of IEX, with the transaction set to be finalized in May, subject to regulatory approval. The transaction amount was not disclosed.
- An FTX statement said the firm seeks to cement its position in global digital asset markets, with IEX as the way to boost its market structure for investors in a compliant and trusted manner.
- FTX Chief Executive Sam Bankman-Fried said the partnership will look into the further establishment of the cryptocurrency market structure and work closely with regulators to allow firms to enter the marketplace.
IEX Group is the operator of the Investors Exchange LLC, which was featured in the best-selling “Flash Boys” book in 2014. FTT is up 0.62%.