November 29, 2022

BGC Partners will launch a crypto exchange that can compete with larger competitors, CEO Howard Lutnick said at a conference Wednesday.

Source: coindesk.com
Source: coindesk.com

Global brokerage company BGC Partners (BGCP) plans to build a cryptocurrency exchange and launch it by the end of this year or the first quarter of 2023, CEO Howard Lutnick said Wednesday during Piper Sandler’s Global Exchange & Brokerage Conference in New York.

The initiative is among the latest moves by a traditional Wall Street firm in the crypto space.

Lutnick said he’s bullish on BGC adding a crypto offering, and the company can compete with global crypto exchanges given its technology and speed of BGC’s platforms.

In addition, Lutnick said he’s used to regulation. “So what,” Lutnick said regarding U.S. Securities and Exchange (SEC) Chairman Gary Gensler wanting to regulate the crypto sector.