AX Exchange: Revolutionizing Traditional Asset Trading with Perpetual Futures

Brett Harrison's New Venture: AX Exchange

Former FTX US President Brett Harrison is spearheading a groundbreaking trading platform, AX Exchange, designed to offer perpetual contracts on traditional assets like stocks and foreign exchange. This initiative seeks to bridge the gap between traditional capital markets and the innovative trading structures seen in the crypto space.

Architect's Bold Move

Harrison's firm, Architect, has announced plans to launch AX, marking the first centralized and regulated exchange for perpetual futures on traditional assets. These include foreign exchange, single stocks, exchange-traded funds (ETFs), stock indices, and other commodities. The platform aims to replicate the capital efficiency and operational simplicity of crypto perpetual markets, while ensuring security and regulatory compliance.

"We designed AX to combine the capital efficiency of crypto perps with the security and regulatory oversight of traditional futures exchanges," Harrison stated on X.

Investor Support and Regulatory Approvals

Architect has secured $17 million in Series A funding, with backing from Coinbase Ventures, Circle Ventures, and Anthony Scaramucci’s SALT Fund, underscoring investor confidence. Additionally, Architect has obtained a license from the Bermuda Monetary Authority, positioning AX to operate within a robust regulatory framework.

From FTX to AX: Harrison's Journey

Before founding Architect, Harrison was pivotal in FTX US's growth as President, leaving in September 2022 prior to its collapse. His background in traditional finance, including roles at Citadel Securities and Jane Street, equips him with the expertise to lead this innovative venture.