FTX acquires Japanese crypto exchange Liquid

FTX, one of the world’s largest cryptocurrency exchanges, has acquired Liquid, a Japan-based cryptocurrency exchange. Quoine Corporation and Quoine Pte subsidiaries, which are affiliated with the cryptocurrency exchange, were also included in this acquisition.

FTX and Liquid to Grow in Japan

Cryptocurrency exchange FTX has acquired Japan’s licensed crypto exchange Liquid. FTX CEO Sam Bankman-Fried announced the acquisition on his Twitter account.

FTX CEO Sam Bankman-Fried explained:

“We are pleased to announce that FTX has acquired the Liquid group of companies, including an FSA-registered crypto-asset exchange, to provide products and services to our customers in Japan.”

According to the statement, Japanese users of FTX will be moved to Quoine’s trading platform. In addition, the acquisition is expected to be completed in March 2022 subject to the fulfillment of traditional closing conditions.

In addition, with this agreement, FTX will provide Japanese legal services to existing Japanese users with Liquid. Thus, FTX and Liquid will work together to serve enterprise customers in Japan.