AX Merges Crypto Perpetuals with Traditional Markets Under Bermuda Regulation

CHICAGO- Architect Financial Technologies Inc. has launched AX, a global, regulated exchange offering perpetual futures on traditional financial assets, marking a significant step in merging cryptocurrency innovation with established markets. The platform, operated by the company's Bermuda-based affiliate Architect Bermuda Ltd. under the Bermuda Monetary Authority (BMA), introduces standardized, centrally cleared perpetual contracts on foreign currencies, stocks, commodities, and more. AX leverages first-in-class matching engine technology from Connamara Technologies and allows users to collateralize positions with both fiat currency and stablecoins.

The exchange aims to address limitations in traditional trading by enabling 24/7 access to perpetual futures-a structure popularized in crypto markets-while adhering to robust regulatory frameworks. "AX combines the capital efficiency and operational simplicity of crypto perps with the security and transparency of traditional futures markets," said Brett Harrison, of FTX US and founder of Architect. Harrison, who previously held roles at Citadel Securities and Jane Street, has positioned AX to capitalize on his experience in both institutional trading and crypto exchange operations, as reported by BeInCrypto.

AX has secured $17 million in Series A funding from investors including Coinbase Ventures, Circle Ventures, and Anthony Scaramucci's SALT Fund, according to The Block. The platform's regulatory approach-rooted in Bermuda's progressive digital asset policies-allows it to bypass U.S. restrictions on perpetual futures for traditional assets. While the Commodity Futures Trading Commission (CFTC) has not yet approved such instruments domestically, AX's Bermuda-based structure enables compliance with anti-money laundering standards and investor protections under BMA's Class M licensing.

The launch reflects broader industry trends toward integrating crypto tools into traditional finance. Perpetual futures, which accounted for over 70% of crypto derivatives volume in 2025, now extend to equities, energy, and metals, offering institutions and sophisticated traders flexible hedging and leveraged exposure. AX's use of stablecoins as collateral mitigates settlement delays during off-hours, a feature Harrison highlighted as critical for volatility-prone markets like forex and commodities.

Looking ahead, Architect plans to expand into emerging asset classes tied to AI and renewable energy, including rare earth metals and compute costs for data centers. With global demand for rare earths projected to rise 7% annually through 2030, AX positions itself to cater to evolving market needs. The platform currently serves hedge funds, family offices, and insurers in eligible jurisdictions, with a waitlist for individual traders.

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