FTX enters into the Japanese cryptoma market with the takeover of a regulated crypto exchange - Exchanges

ftx is pleased to announce the takeover of the Liquid group of companies, including an FSA-registered crypto-asset exchange to offer our customers in Japan.

Liquid tweeted on Wednesday: "The Liquid Group and all of its operational subsidiaries are taken over by FTX Trading LTD."

Liquid runs Quoine, a cryptocurrency exchange in Japan, which is licensed by the Financial Service Agency (FSA), the country's highest financial supervisory authority.

quoine was founded in 2014 and was one of the first cryptocurrency exchanges in Japan, which was registered by the FSA in 2017. The Japanese stock exchange was granted a type 1 registration for financial instruments in October last year. The stock exchange also offers the trade in derivatives.

ftx recently raised $ 32 billion. "This round will support our continued mission to launch innovative products and services and to expand our global reach with additional licenses around the world," Banksman-Fried told Bitcoin.com News.

Liquid explained that it and FTX “expected to work together to provide customers with products and liquidity in the Japanese and global markets”, and explained:

After taking over Liquid by FTX, Quoine will gradually integrate FTX's products and services into its own offer, and the existing Japanese customers of FTX are migrated to the Quoine platform.

On the FTX website, it is currently said that the stock exchange does not take users from Japan on board and "are prohibited from Japan's registrations". In addition, "FTX Digital Markets Ltd. currently does not support users from Japan".

The takeover is expected to be completed in March if the usual final conditions are met, Liquid.

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What do you think that FTX acquires a regulated Japanese crypto exchange? Let us know in the comment area below.

Kevin Helms

As a student of Austrian economics, Kevin Bitcoin discovered in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

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