Brett Harrison has raised 35 million dollars to build a derivatives exchange that applies crypto market mechanics to traditional financial assets, signaling growing interest in adapting digital trading infrastructure to regulated markets. The funding supports Architect Financial Technologies, a firm developing a platform designed for perpetual futures linked to assets such as equities and foreign exchange. Unlike crypto native venues, the exchange does not list contracts tied to digital tokens, instead focusing on instruments familiar to macro and institutional traders. The round values the company at roughly 187 million dollars and reflects investor belief that perpetual style contracts may have broader application beyond crypto markets. The initiative highlights how market participants are exploring ways to combine continuous trading, capital efficiency, and standardized margining with the requirements of established financial systems.
Architect operates its exchange under the AX brand, positioning it as a global venue for non United States institutional traders. The platform is regulated in Bermuda, reflecting the continued regulatory limits on offering perpetual futures tied to traditional assets within the United States. While perpetual contracts have long been a feature of crypto markets, their expansion into equities, currencies, and macro linked instruments remains constrained by domestic approval processes. AX is structured to offer non expiring derivatives that allow institutions to gain synthetic exposure without holding underlying assets. This design appeals to funds seeking flexible hedging tools and continuous exposure while remaining within a regulated framework. The platform’s focus underscores a broader effort to translate crypto era market design into conventional finance without replicating the risks seen in unregulated environments.
Investor interest in traditional asset perpetuals has increased as firms examine how derivatives innovation could support risk management across global markets. Venture arms and market operators have pointed to demand for products that track macroeconomic variables, commodities, and real world assets through standardized derivatives. These structures could allow participants to express views or hedge exposures with lower operational friction compared to legacy futures markets. Harrison’s move into this space follows his tenure leading FTX US prior to its collapse, but the current venture emphasizes governance, regulation, and institutional alignment. By separating crypto assets from crypto inspired infrastructure, the project reflects a shift toward selective adoption of digital market efficiencies. The development suggests that perpetual futures may evolve into a broader financial toolset if regulatory pathways continue to open outside the United States.
