Trading Firm Susquehanna Reportedly to Open an Office in the Bahamas

Quantitative trading giant Susquehanna International Group plans to open an office in the Bahamas, joining a rush of cryptocurrency trading shops wooed by the island nation's industry-friendly policies, two people familiar with the plan said.

Based just outside Philadelphia and with offices worldwide, Susquehanna is a major liquidity provider for global traditional financial markets. It has a sizable presence in crypto, too: The firm makes markets on centralized crypto exchanges and has discussed doing so for decentralized finance (DeFi) derivatives platforms, according to a source at one prospective counterparty.

Susquehanna didn't respond to requests for comment.

The planned expansion comes as a growing list of crypto players stake their offshore claim 150 miles east of Miami in an island nation where the crypto regulations are friendly and corporate taxes zilch. FTX Digital Markets, the derivatives powerhouse founded by billionaire Sam Bankman-Fried, sparked the relocation trend with its high-profile move to the Bahamas from Hong Kong.

While plenty of Caribbean islands have long courted international financiers, the Bahamas' push for crypto regulation seen as favorable to the industry has made it a recent favorite – especially among the U.S. expatriate community, industry observers said.

Source: Coindesk