<p>Trading giant FTX announced on Monday it would expand its empire with a push into Europe after securing approval from financial regulators in Cyprus.</p> <p>According to a press release, the company will start offering its products to European clients via a licensed investment firm with passportable licenses across the European economic area. The new entity will be headquartered in Switzerland. </p> <p>"As we continue to grow, we are constantly looking at opportunities to become appropriately licensed and regulated in every market we enter," said CEO and founder Sam Bankman-Fried. "We’ll be interacting with regulators in various countries across Europe to continue to provide a safe and secure environment for people to trade crypto.”</p> <p>The play for expansion follows a <a href="https://www.theblockcrypto.com/post/132383/venture-froth-catapults-ftx-to-32-billion-valuation">bumper fundraising round</a> announced in January: a $400 million Series C that valued the crypto exchange-operator at $32 billion. That funding announcement came less than four months after FTX raised at a $25 billion valuation and just a few days after its US affiliate FTX.US announced that it had raised at an $8 billion valuation.</p> <p>FTX's US business has captured the attention of the financial press after growing its user base to 1 million and hinting at ambitions to go after household names like Robinhood with its own stock trading feature.</p> <p>Its marketing budget has likely played a role in that success. FTX.US owns the naming rights to the Miami Heat stadium and it is the official crypto exchange sponsor of Major League Baseball. </p>