FTX, the world’s seventh-largest exchange, has announced plans to launch a new European affiliate: FTX Europe. 

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In a press release on Monday, the company revealed FTX Europe will offer clients in the European Economic Area and the Middle East access to derivatives, options, volatility products, and much more.

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The new European venture is headquartered in Switzerland along with a regional headquarters in Cyprus, where it received approval for the platform from financial market regulator CySEC.

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“As we continue to grow, we are constantly looking at opportunities to become appropriately licensed and regulated in every market we enter," said Sam Bankman-Fried, FTX's founder and CEO, said in a statement. "We'll be interacting with regulators in various countries across Europe to continue to provide a safe and secure environment for people to trade crypto." 

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This comes just a week after FTX launched its $1 billion fund called the FTX Future Fund with the goal to support "ambitious projects in order to improve humanity's long-term prospects." 

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