NASSAU, BAHAMAS — The world’s second largest cryptocurrency exchange is looking to invest around $60 million towards the development of a boutique hotel, commercial center and its new headquarters in The Bahamas.
During a town planning meeting Wednesday night, it was noted that FTX Holdings Ltd, the real estate holding company for FTX Digital Markets, is seeking approval to develop nearly five acres of land at Bayside Executive Park.
The development will include FTX’s headquarters, a boutique 38-room hotel and a building for commercial use.
Ryan Salame, CEO of FTX Bahamas, said: “The new headquarters will be a hub for innovation and training for Bahamians and international talent.
“FTX is extremely excited for what is to come for both the industry and The Bahamas.
“We are reinvesting and contributing a significant amount to the growth of our team here in The Bahamas. With this project, we will create even more local jobs on top of the 40 jobs we have created.”
Salame said the FTX campus will be comparable to that of Apple or Google.
The project is expected to be completed in three years.
FTX opened its offices in The Bahamas and has taken up most of the office space in the Veridian Corporate Center.
The company’s owner, Sam Bankman-Fried, has said previously that The Bahamas’ move to establish the “world’s first comprehensive” regulatory regime for cryptocurrency and digital assets had encouraged the exchange to relocate to this nation from Hong Kong.
