Perkins Coie Represents Embed Financial Technologies in Acquisition by FTX US Cryptocurrency Exchange

PORTLAND (June 23, 2022)—Perkins Coie is pleased to have represented Embed Financial Technologies Inc., the parent company of Embed Clearing LLC, in its agreement to be acquired by FTX US. For more information, please see FTX's press release here.

Embed is a correspondent clearing firm specializing in providing white-label brokerage services and application programming interfaces (APIs) to broker-dealers and registered investment advisors. FTX is a U.S.-regulated cryptocurrency exchange. This merger will allow Embed and FTX US to fulfill their shared goal of providing white-label brokerage services to other businesses, applications, and customers, in addition to a shared commitment to using best-in-class technology to ensure operational robustness.

Perkins Coie has served as outside counsel to Embed since its incorporation in 2020. The Perkins Coie deal team was led by Portland Partner Joe Bailey and included associates Angie Burcham and Tom Vogt.