FTX US is expanding its presence in Miami, Florida, where the crypto exchange has already established a firm foothold.
The firm is building permanent office space for 16 to 18 employees in Miamis financial district, according to a recent Bloomberg interview with FTX USs vice president of business development, Avinash Dabir.
Dabir also said there is a significant opportunity in crypto and real estatealbeit in its early stages. He reportedly imagines a time in the future when property titles could be NFTs, or escrow accounts could be handled via smart contracts.
I cant think of a better place to do that. It feels like everyone I talk to is in real estate, outside of crypto, he told Bloomberg.
He also added that the companys existing Miami-related partnerships, including one with Property Markets Group, will help establish and facilitate real estate transactions via cryptocurrencies.
FTXs growing Miami footprint
This is the latest move in FTX’s focus on the crypto-friendly city of Miami.
Earlier this year, the exchange finalized a deal with the Miami Heat that saw the NBA franchises home stadium renamed the FTX Arena. The dealwhich is in place for 19 yearsis part of FTXs ambitious marketing push.
Two days ago, Sam Bankman-Fried said the crypto exchange is looking to spend big on marketingspecifically sports marketingto boost name recognition in a crowded crypto exchange space.
When someones looking to get involved in crypto for the first time, weve found that they havent heard of FTX, the CEO said during the Decrypt and Yahoo Finance Crypto Goes Mainstream event earlier this week.
Weve been around for two and a half years. Thats a lot less than some of the other big names in the crypto exchange business, he added.
