FTX acquires Liquid, owner of FCA-registered Japanese crypto exchange Quoine.
to the announcement, the partnership will serve retail and institutional investors in the Japanese and global markets:
“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.” The agreement also requires FTX to comply with Japanese laws while serving existing Japanese users on its platform. Based on this agreement, FTX will transfer its existing users from Japan to Quoine’s trading platform starting March 30.
While the acquisition is expected to close in March 2022, the economic terms of the deal are yet to be disclosed.Just last week, FTX US achieved an $8 valuation following SoftBank Group Corp-led funding of $400 million. As Cointelegraph reported, FTX US president Brett Harrison had planned to redirect the funds to expand the crypto exchange’s offerings and a supporting workforce. Following numerous other concurrent investments, FTX exchange as a whole“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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