Advising Architect Bermuda Ltd. on the launch of AX, Bermuda’s first regulated traditional perpetual futures exchange

We recently acted as Bermuda legal counsel to Architect Bermuda Ltd. in obtaining dual licenses under the Bermuda Monetary Authority’s Investment Business Act and Digital Asset Business Act to launch AX, an innovative exchange for perpetual futures on traditional underlying assets.

The dual licenses provide AX customers with the security of transacting under a robust and comprehensive regulatory regime where customers will use traditional fiat currency as collateral to meet margin requirements, with a road map to also accepting stablecoins as collateral. AX is currently available to institutions — including hedge funds, market makers, family offices, asset managers, insurance and reinsurance companies, and lenders — in eligible jurisdictions.

Our team was led by partners Natalie Neto and Leonie Tear.

Natalie commented: 'We are delighted to have assisted Architect and to officially welcome this first-in-class regulated global exchange to Bermuda's thriving digital asset sector.'

Leonie added: 'It has been a real pleasure to work with a team that places such paramount importance on regulatory compliance and upholding the highest industry standards across the investment business and digital asset sectors.'

Congratulations to Architect on this incredibly important milestone.