Crypto Exchange FTX Enters Japanese Market After Acquiring Quoine
Crypto exchange FTX is entering the Japanese market with its latest acquisition of Liquid, the operator of regulated Japanese exchange, Quoine. An important move for the exchange, which currently prohibits any registrations from Japan.
FTX CEO Sam Bankman-Fried made the announcement via his Twitter account on Wednesday:
FTX is pleased to announce the acquisition of the Liquid group of companies, including an FSA-registered crypto-asset exchange to provide products and services to our customers in Japan!
https://t.co/rO5TznWFCU
— SBF (@SBF_FTX) February 2, 2022
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Liquid independently shared the news themselves as well stating:
Liquid Group and all of its operating subsidiaries are being acquired by FTX Trading Ltd. @SBF_FTX @FTX_Official
FTX and Liquid expect to work together to provide products and liquidity to clients in the Japanese and global markets.
Learn more
https://t.co/am09cwscMe
— Liquid Global Official (@Liquid_Global) February 2, 2022
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Liquid’s announcement further said:
“Following FTX’s acquisition of Liquid, Quoine will gradually integrate FTX’s products and services into its own offering, and FTX’s existing Japanese customers will be migrated to Quoine’s platform.”
Quoine, licensed by the Financial Service Agency (FSA), the country’s top financial regulator, was founded in 2014. The exchange holds a Type 1 Financial Instruments Business registration granted
The acquisition is still subject to customary closing conditions being met and expected to finalize in March.
This week, FTX recently became a $32 billion company after its latest Series C funding round, raising $400 million in capital.
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Source: igaming
