FTX acquired Japanese FCA-licensed crypto exchange Liquid

The deal is expected to close in March 2022, but its terms have not yet been disclosed

02.02.2022 - 12:40

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1 min

What’s new? American billionaire and CEO of crypto exchange FTX Sam Bankman-Fried has announced that his company has acquired Japan’s crypto exchange Liquid Group and its subsidiaries. As part of the deal, FTX bought Quoine Corporation, a crypto exchange licensed by the Financial Services Agency (FSA).

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

What is the essence of the partnership? The partnership will cover services to retail and institutional investors in the Japanese and global markets. The agreement commits FTX to comply with Japanese laws when serving local users on its platform. Based on this agreement, FTX will migrate its existing users from Japan to the Quoine trading platform starting March 30. .

What does the FTX CEO say? Despite experts’ concerns about a falling cryptocurrency market, Bankman-Fried remains bullish:

“I think we’re not entering a long-term crypto winter. There have been changes in expectations of interest rates, and that’s been moving crypto markets. But it’s been moving markets more generally as well.”

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