Brett Harrison, the former president of FTX US, is developing a new trading platform. His company, Architect, plans to launch a regulated exchange called AX. This platform will offer perpetual futures contracts on traditional assets. These assets include stocks, foreign exchange, ETFs, and commodities.
Perpetual futures are common in cryptocurrency markets. They are contracts that do not have an expiry date. AX aims to apply this efficient trading model to traditional finance. The goal is to combine crypto market efficiency with the security of regulated oversight.
Architect has received significant financial backing for this project. The company raised $17 million in a Series A funding round. Major investors include Coinbase Ventures, Circle Ventures, and Anthony Scaramucci’s SALT Fund. This backing provides institutional credibility and the funds needed for development.
The new exchange has been licensed by the Bermuda Monetary Authority. This allows AX to operate within a recognized regulatory framework. Harrison stated that AX is designed with safety features. These include price bands, volatility halts, and specific margin requirements for different products.
Brett Harrison has a background in both traditional finance and crypto. Before leading FTX US, he held senior technology roles at Citadel Securities and Jane Street. He left FTX US in late 2022, before its parent company’s collapse. His new venture, Architect, represents his strategic return to the digital asset space.
The launch of AX signals a growing trend of merging crypto trading mechanics with regulated traditional assets. It aims to attract institutional investors by offering a trusted and efficient platform.
