FTX US has applied for a Trust Charter with the New York Department of Financial Services, or NYDFS, for New York State proceedings.
In Wednesday’s announcement, FTX US saidhas applied to form a trust company with the New York Financial Services Regulatory Authority in order to offer products and services to local users. It is under review and regulatory approval. It will be run by veteran Fidelity Investments Marissa MacDonald, who will assume the role of Chief Compliance Officer.
Coinbase and BitGo have previously received trust Charters from the New York Financial Conduct Authority. This allows the company to provide crypto asset custody services.
In January, FTX US was valued at $8 billion after a $400 million funding round, and FTX followed up with $400 million in funding that month, bringing the company’s valuation to $32 billion.
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