FTX is acquiring Canadian cryptocurrency trading platform Bitvo By _tommatsuda
The deal is set to close in the third quarter of this year, pending regulatory approval.
FTX is set to acquire Canadian crypto trading platform Bitvo as the cryptocurrency exchange continues to add to its global treasure chest of acquisitions.saying that the deal is set to close in the third quarter of this year on the condition it receives regulatory approval. "We are delighted to enter the Canadian marketplace and continue to expand FTX's global reach. Our expansion intois another step in proactively working with cryptocurrency regulators in different geographies across the globe," FTX CEO Sam Bankman-Fried said in the announcement.
Bitvo is a Canada-based platform that enables users to trade digital assets, including BTC and ETH among others, while also offering a cash card. According to the news release, the platform was the first crypto asset platform to register as a restricted dealer, meaning that it is able to offer trading services across all of Canada's provinces.