FTX Launches Cash-Assistance and Financial Inclusion Program 

Key Takeaways: 

  • FTX launches its new headquarters in Chicago. 
  • The firm has also launched a financial program to support the residents in partnership with the mayor of the city. 

The digital asset exchange, FTX announced the official opening of its headquarters in Chicago on May 10. The president of the company, Brett Harrison shared this news on Twitter expressing his joy upon achieving this milestone. 

Along with this, Brett also shared that the company has partnered with the Mayor of Chicago, Lori E. Lightfoot, and EatorgChicago, a Non-Governmental and Non-profit Organisation to launch its new cash assistance and financial program, and was revealed at the headquarters, in the Fulton Market district in the West Loop. The Mayor was present to cut the ribbon and deliver his remarks. The program is still in its pilot stage and is a passive income program. 100 eligible residents from the Austin, Englewood, and West Garfield Park neighborhoods will be selected who will receive “$500 monthly income, financial literacy training, and access to FTX’s zero debit card” along with their free banking services. 

In an interview with Decrypt, the president said that this initiative aims to benefit Chicagoans using the technology of the company. In the press conference, Lightfoot said that crypto firms have the ability to, “set the stage and challenge the traditional banks and financial lenders to get on board with a new reality.” She further added, “In partnership with companies like FTX US, my goal as mayor is to bend the cryptic arc towards equity.” 

Brett has shared in a Twitter thread that, “FTX and FTX Foundation aims to make long term investments in the communities we’re a part of, and to use crypto and our financial technology stack to provide new means of equitable access to financial services to historically underserved populations.” 

Shreya Bhattacharya
Shreya Bhattacharya

A journalist & writer exploring new topics every day!

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