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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:
Liquid independently shared the news themselves as well stating:
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.