Former FTX US President Brett Harrison Returns With Perpetual Futures for Traditional Markets

Brett Harrison, the former president of FTX US, is making a comeback—this time aiming to bring one of crypto’s most defining instruments, the perpetual futures contract, into the world of traditional finance.

His new venture, Architect Financial Technologies, plans to introduce perpetual futures not for digital assets, but for conventional markets such as foreign exchange, interest rates, equities, indexes, metals, and energy. According to Harrison, the company has received approval from the Bermuda Monetary Authority to operate its new trading venue under a regulated entity.

“The market structure resembles that of modern derivatives, but it’s designed for traditional asset classes,” Harrison said in an interview. He added that Architect’s long-term roadmap includes launching perpetuals tied to emerging sectors like the AI economy, covering assets such as rare earth metals, renewable energy, and even data center compute costs.

A Proven Engine of Crypto Volatility

Perpetual futures—often called “perps”—are the backbone of the crypto derivatives market. Platforms like Binance and OKX have built massive trading volumes around them, allowing traders to take on continuous, leveraged positions without ever owning the underlying tokens. These products, while highly volatile, are immensely popular with retail traders for their liquidity and around-the-clock accessibility.

In the United States, however, regulators have so far refrained from approving perpetuals for either crypto or traditional assets. Yet with President Donald Trump’s renewed deregulatory push, optimism is growing that the asset class could soon find a home in U.S. markets.

Shifting Regulatory Landscape

At Cboe Global Markets, efforts are already underway to test the waters. The exchange plans to introduce long-dated versions of perpetual Bitcoin and Ether futures in the U.S. as early as November—pending regulatory approval.

Harrison believes the timing is ideal. “It’s the perfect moment to bring this kind of innovation to traditional assets,” he said, noting the increasing appetite for 24/7 markets and programmable, collateralized trading instruments.

A 24/7 Venue for Traditional Assets

Architect’s new exchange, called AX, will operate continuously, giving investors worldwide access to perpetual contracts at any time of day. According to Harrison, the platform will accept both fiat currency and U.S. dollar–backed stablecoins as collateral—enabling transactions even when traditional banking systems are closed.

The venue will be run by Architect Bermuda Ltd., the firm’s Bermuda-based affiliate, which operates under a local regulatory license.

Building on a Deep Trading Background

Harrison’s background gives him a unique vantage point to bridge crypto and traditional finance. Before founding Architect, he served as president of FTX US for 17 months, stepping down in September 2022—just weeks before the exchange’s dramatic collapse. Earlier in his career, he worked at Citadel Securities and Jane Street Group, where he first collaborated with FTX founder Sam Bankman-Fried.

The Chicago-based startup is currently raising funds through a Series A round. To date, it has secured $17 million from backers including Coinbase Ventures, Circle Ventures, and Anthony Scaramucci’s SALT Fund. Harrison said the company is in active talks with new investors to expand its capital base and scale its trading infrastructure.

A New Frontier for Financial Innovation

If successful, Architect’s model could blur the boundaries between digital and traditional finance, opening the door for perpetual markets in mainstream asset classes. For Harrison, it’s an opportunity to take one of crypto’s most dynamic instruments and reshape how institutional investors trade global assets.