Crypto exchange FTX’s US arm, FTX US, officially opened its new headquarters in Chicago, Illinois, and announced an upcoming pilot program that aims to provide guaranteed income on top of several other benefits for the city’s low-income residents. FTX US’ new headquarters is located in the Fulton Market district in Chicago’s West Loop.
President of FTX US, Brett Harrison, states that FTX US is more than happy to make the city of Chicago its home base, adding that the city has long been a hub for innovation in financial technology. Harrison then proudly announced its newly-found partnership with Equity and Transformation (EAT) to support the city’s underbanked communities by providing them access to supplemental income as high as $500 per month, among many other benefits.
Chicago Mayor Lori Lightfoot was present at the opening ceremony and delivered remarks. As per the Mayor, as the city continues to establish its reputation as a go-to destination for fintech innovation, it is essential that all of its residents, no matter their status in life, have access to these emerging technologies. The Mayor adds that the new FTX US pilot program ensures that residents from underrepresented statutes of life can receive much-needed cash assistance, an innovative monetary service, and sought-after financial education in one place.
FTX US’ pilot program will purportedly support eligible residents from Englewood, West Garfield Park, and Austin neighborhoods at launch. The funds for this promising initiative will come from the FTX Foundation itself, which reportedly intends to distribute as much as $100 million to charitable programs this year alone.