QFEX: 24/7 stock exchange for US equities and commodities launching offshore in Bermuda — founded by ex-Tower Research and Citadel quants
Jun 11, 2025
Key Points
- QFEX launches a 24/7 offshore exchange in Bermuda applying crypto mechanics like leverage and round-the-clock settlement to traditional US equities and commodities.
- The startup, founded by ex-Tower Research and Citadel quants, lets institutions and retail traders bypass brokers and access assets in real time without blockchain.
- QFEX remains unlicensed and ran internal Y Combinator experiments to validate the concept ahead of its offshore debut in coming months.
Summary
QFEX is building a 24/7 offshore stock exchange for US equities and commodities. The platform applies crypto exchange mechanics to traditional assets without blockchain technology, launching in Bermuda within the next couple of months pending licensing.
The founding team comes from quantitative trading. The CEO worked at Tower Research, and co-founders came from Citadel. The pitch targets institutions and retail traders who want real-time access to traditional assets around the clock, without brokers, and with high leverage. The operational model mirrors crypto exchanges applied to regulated markets.
The company remains unlicensed and has not yet launched publicly. During the current Y Combinator batch, the team ran internal experiments to validate the concept before the offshore launch. The CEO frames the product as adopting design improvements from crypto exchanges—speed, leverage availability, and 24/7 settlement—and applying them to traditional finance.