Hassans is delighted to have assisted FTX Trading Limited (‘FTX’) in its recent acquisition of the Zubr Group of companies (‘the Group’).
Locally established Zubr Exchange Limited, part of the Group, has recently been approved by the Gibraltar Financial Services Commission as a DLT provider licence for the provision of a secondary market venue for trading digital assets and for the provision of custody services.
Parent company, FTX, “is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. FTX strives to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.”
A spokesman for FTX said:
“The licensing authorisation granted to Zubr Exchange Limited is an important step as we develop operations in Gibraltar. Operating under Gibraltar’s regime for DLT enables us to focus on growth and development of core business activities in a manner that validates our investment in the Group.”
Aaron Payas, a Partner at Hassans, has been appointed non-executive director of Zubr Exchange and the acquisition by FTX was managed by Partner Anthony Provasoli, working with colleagues from the firm’s Corporate team and Financial Services/Fintech team, David Montegriffo and Roy Balestrino.
Anthony Provasoli, speaking on the news of the licensing authorisation, observed that:
“This is an important point in the development of FTX’s plans. Congratulations are in order for this achievement and we wish the leadership and all at FTX/Zubr the best for the future. We look forward to continuing to work with FTX as they build on this excellent news today.”