Architect Financial Technologies Lands $35 Million to Build Out New AX Perpetual Futures Exchange

Introduction

Architect Financial Technologies Inc. has successfully raised $35 million in a strategic Series A funding round to accelerate the development and growth of its flagship trading platform, AX — a regulated centralized exchange for perpetual futures on traditional financial asset classes. The round was completed in December 2025 and reflects strong investor confidence in derivatives infrastructure that combines the capital-efficiency of crypto-style perpetual contracts with the regulatory oversight demanded by institutional markets.

Founded and led by Brett Harrison, former president of FTX US, Architect aims to bridge innovations from digital asset markets with established capital markets, offering next-generation derivatives trading to institutional participants across global markets.

About the Funding Round

Architect’s $35 million Series A financing was led by Miami International Holdings, Inc. (NYSE: MIAX) and Tioga Capital, with significant participation from a consortium of prominent global financial and trading firms — including Galaxy Ventures, ARK Invest, VanEck, Trumid, and Geneva Trading. Early backers such as Coinbase Ventures, Strobe Ventures, CMT Digital, and Third Kind Venture Capital also provided substantial renewed support.

The investment round brings Architect’s total capital raised to approximately $52 million, following an initial $5 million pre-seed raise in 2023 and a $12 million seed round in 2024.

According to PR Newswire, the new funding will support the ongoing scaling of AX, enabling broader product development, institutional adoption, and deeper liquidity in perpetual futures markets under a regulated framework.

What AX Is and How It Works

Launched in November 2025, AX describes itself as the financial industry’s first regulated centralized exchange dedicated to perpetual futures on traditional asset classes — such as:

• Foreign exchange (FX)
• Interest rates
• Single stocks and stock indices
• Metals and commodities

This product structure — inspired by perpetual futures markets in crypto — offers non-expiring contracts that trade continuously, with funding rate mechanisms substituting for scheduled expiries.

Unlike many offshore or crypto-native platforms that focus solely on digital assets, AX targets institutional derivatives traders under a regulated regime maintained by the Bermuda Monetary Authority, where its operating affiliate Architect Bermuda Ltd. holds comprehensive licenses.

Currently, AX is available only to institutional clients — including hedge funds, market makers, family offices, asset managers, insurance firms, and lenders — in qualifying jurisdictions. Sophisticated individual traders can join a waitlist for potential future access.

Leadership and Strategy

Architect’s founder and CEO, Brett Harrison, brings deep derivatives and exchange leadership experience to the project. Prior to founding Architect in 2023, Harrison served as president of FTX US — departing in 2022 shortly before that exchange’s collapse — and previously held senior positions at firms such as Jane Street and Citadel Securities.

In announcing the Series A raise, Harrison highlighted that the team was “excited to initiate AX’s next critical phase of growth” alongside strategic partners, emphasizing a shared vision to catalyze a new era in global derivatives trading.

Architect’s broader ecosystem includes additional regulated entities such as Architect Securities LLC (a FINRA-registered broker-dealer) and Architect Financial Derivatives LLC (an NFA-registered derivatives broker), creating a layered foundation for both trading and technology services.

Why This Matters

1. Institutional Perpetual Futures Go Mainstream

Perpetual futures — popularized in crypto markets by platforms like BitMEX and others — allow traders to maintain positions without expiration dates. These instruments have historically lacked widespread regulated access for traditional assets such as equities, currency pairs, and commodities. AX’s model seeks to bring that capital-efficient structure into mainstream markets with regulatory oversight.

2. Regulatory Framework and Geographic Reach

By operating under a Bermuda Monetary Authority license, Architect addresses regulatory hurdles that have held back similar products in major markets like the United States, where regulators such as the CFTC are still evaluating frameworks for perpetual contracts on traditional assets.

This structure gives AX the ability to offer institution-focused products with robust compliance, risk controls, and oversight — a value proposition for asset managers and professional traders who must operate within regulated environments.

3. Strategic Capital and Market Confidence

The caliber of investors in this round — including trading firms, institutional capital partners, and long-term venture backers — reflects confidence in Architect’s strategy and leadership team. Firms like MIAX and Tioga Capital bring both capital and market infrastructure expertise, potentially accelerating AX’s integration into broader trading ecosystems.

4. Filling a Market Gap

Traditional derivatives exchanges, like the CME Group, dominate futures markets but have structural limitations — such as fixed expiries and higher capital requirements — that perpetual futures products sidestep via funding-rate mechanics. Platforms like AX aim to combine features of both worlds: the efficiency of crypto derivative engines with the stability and oversight of regulated exchange infrastructures.

Market and Industry Context

The perpetual futures model has been highly successful in crypto markets due to its simplicity and capital efficiency. Applying this structure to traditional assets may expand traders’ toolkit for hedging, speculation, and exposure without requiring settlement of underlying physical assets — appealing to institutional players seeking broader risk-management tools.

Moreover, as derivatives continue to dominate global trading volume — often dwarfing spot markets in notional value — innovation within regulated frameworks could attract significant capital and liquidity if supported by robust market-making and risk-management infrastructure.

Future Outlook

With $35 million in fresh capital and a strong mix of strategic backers, Architect Financial Technologies appears poised to deepen AX’s functionality, liquidity and market reach in 2026 and beyond. Key growth levers will likely include:

• Expanding institutional client onboarding across eligible jurisdictions
• Introducing more asset classes and contract varieties
• Enhancing risk management tools and API access
• Building out global relationships with liquidity providers and market makers

As the exchange scales and institutions increasingly seek regulated alternatives to purely crypto-native venues, AX’s hybrid approach — marrying derivatives innovation with regulatory compliance — could become a standout in the next generation of global trading infrastructure.

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