Former FTX US chairman Capital $35 million for traditional asset Derivative . Photo: Bloomberg.
Brett Harrison, former President of FTX US, has successfully raised $35 million for the startup Architect Financial Technologies , in an effort to bring the efficient trading structure of the cryptocurrency market into Derivative products linked to traditional financial assets.
Architect has completed a $35M strategic Series A fundraise to accelerate the growth of AX, the financial industry's first centralized and regulated exchange for trading perpetual futures on traditional assets. pic.twitter.com/UL7HzRsEqE
— Architect (@Architect_Fi) December 23, 2025
According to The Information , the Capital round was led by Miami International Holdings and Tioga Capital, valuing the company at approximately $187 million. The list of investors also includes a number of big names such as Galaxy Ventures, ARK Invest, VanEck, Trumid, Geneva Trading, and Coinbase Ventures.
Architect currently operates AX, a global perpetual Futures Contract for institutional clients. On AX, investors can trade Derivative with no expiration date, linked to stocks, forex, indices, interest rates, and commodities. Unlike the crypto exchanges that popularized “perps” over the past decade, AX does not list any contracts tied to digital assets.
Structurally, AX adopts a centralized Order Book , clearing and settlement mechanisms, and risk management standards similar to those of traditional Derivative markets, but is designed to optimize Capital efficiency and trading experience—factors that have made the crypto market so attractive. The platform utilizes Connamara Technologies' high-performance order matching engine, providing a web interface, low-latency APIs, and an open-source SDK for professional traders.
The platform is operated through Architect Bermuda Ltd. and is regulated by the Bermuda Monetary Authority (BMA). However, AX does not yet offer services to traders in the US, as regulators have not yet given the green light to perpetual Futures Contract on traditional assets.
Nevertheless, interest in this product structure is spreading beyond the cryptocurrency world. In its 2026 investment outlook report, Coinbase Ventures placed asset-backed perpetual contracts in its strategic focus, arguing that there is a growing demand for Derivative that offer comprehensive exposure to macroeconomic data, commodities, and off-chain assets. According to the fund, such products allow investors to hedge against risks or bet on traditional market volatility without directly holding the underlying asset.
Architect is also reportedly preparing to expand its operations into Europe and the Asia-Pacific region, where demand for Derivative and flexible product structures is rapidly increasing, while the regulatory framework in some markets allows for earlier testing compared to the US.
Harrison served as President of FTX US for approximately 17 months before stepping down in September 2022, shortly before the collapse of its parent company . Since then, he has distanced himself from pure crypto, focusing instead on extracting the best aspects of cryptocurrency market infrastructure—speed, continuity, and Capital efficiency—to apply to a regulated global financial system.
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