Cryptocurrency exchange FTX’s US subsidiary is now a member of the International Swaps and Derivatives Association (ISDA), FTX chief executive officer Sam Bankman-Fried wrote in a tweet Thursday.
- ISDA has over 960 member institutions from 78 countries, according to its website. Members include corporations, investment managers and regional banks. The ISDA, which was started in 1985, says it helps “make the global derivatives markets safer and more efficient.”
- FTX, which specializes in offering derivatives to its global customers, has been making a major push to also offer them to its U.S. customers with its acquisition of Ledger X, which it has renamed FTX US Derivatives.
- ”We are looking forward to working alongside ISDA and their CEO Scott O’Malia as we continue to build up crypto derivatives markets in the United States and globally,” Bankman-Fried added in the tweet.
- FTX did not immediately respond to a request for additional comment on this story.
We’re excited to announce that FTX US is now a member of @ISDA. We are looking forward to working alongside ISDA and their CEO @ScottOMalia as we continue to build up crypto derivatives markets in the United States and globally.
— SBF (@SBF_FTX) December 9, 2021
Read more: Bankman-Fried Says Stricter Regulation of Crypto Exchanges Would Be Positive