- Brett Harrison is launching a new trading firm for institutional investors to trade crypto and futures.
- The former FTX US president’s Architect Financial Technologies is launching the platform to cater to exchanges and trading venues.
- The firm also plans to offer clearing services for futures trades with StoneX Group Inc. and Wedbush Financial Services LLC.
Brett Harrison, the former president of FTX US, is launching a new trading platform for institutional investors to trade futures and crypto assets. Harrison’s Architect Financial Technologies Inc. is launching the new trading platform to cater to exchanges and trading entities including CME Group, Coinbase Global Inc., and Uniswap.
Architect Plans To Offer OTC Trading Through Crypto Market Makers
According to a report by Bloomberg, Architect Financial’s trading hub will also offer clearing services for futures trades in collaboration with StoneX Group Inc. and Wedbush Financial Services LLC. Additionally, the new platform plans to enable over-the-counter (OTC) trading using several crypto market makers including Wintermute and Mike Novogratz’s Galaxy Digital.
“One of the things I have learned is security and trust is paramount in building a trading platform. As we designed Architect we have come up with security features to ensure clients remain in control of private information such as wallets, keys, and account information.”
Brett Harrison, Founder and CEO of Architect Financial Technologies
Harrison’s new venture will reportedly not manage or trade funds for clients. Its primary role will be to connect users to systems in crypto and futures markets using its software. Architect’s roadmap includes offering multiple asset classes including equities, options, and fixed income. Speaking on investors’ confidence in his firm, Harrison revealed that it was attracting “tremendous interest”.
Harrison set up Architect in January 2023, almost four months after he relinquished his role at the helm of the bankrupt crypto exchange’s American arm. According to Crunchbase, the firm raised $5 million in its initial funding round, which was held in January this year. The funding round saw participation from crypto heavyweights like Coinbase Ventures and Circle Ventures. Other investors include Anthony Scaramucci and Motivate Venture Capital.