FTX launches a new trading branch, officially “expanding” to Japan

FTX is officially licensed to operate cryptocurrency trading services in Japan. This is the next attempt in the global “expansion” of the world’s second largest cryptocurrency exchange.

FTX Japan is the result of the deal Acquiring Liquid Group in February. Liquid is the parent company of Quoine Corp., one of the first cryptocurrency exchange platforms licensed in Japan in 2017.

Really excited that FTX: Japan is live!https://t.co/prPUbtbpx6 https://t.co/sS4D3yfKZU

— SBF (@SBF_FTX) June 3, 2022

Accordingly, the exchange will list many popular coins including Bitcoin (BTC), Ether (ETH) and Solana (SOL)… Customers can also deposit and withdraw in yen.

Not long ago, FTX US opened 0% commission stock trading, integrated with stablecoin securities payment. FTX.US pioneers to open free trading accounts, does not require minimum balance and especially does not collect any fees from users.

With a growing presence, FTX has been making strong forays into the traditional financial markets, increasingly interested in a crowd of investors rather than just a proprietary piece of cryptocurrency pie. In addition to the newly established European branch FTX Europe, to the crypto trading platform serving the Australian market, FTX has also opened an office in Africa.

With an effort to “expand” its position globally, being licensed by Japan to operate in the land of kimchi is considered a very important milestone. Japan is inherently one of the most heavily regulated countries for cryptocurrencies and was one of the first to issue a formal regulatory framework for cryptocurrency exchanges.

In terms of “huge” acquisitions, FTX is the representative that has become so familiar with this playground. Over the past half year or so, FTX has continuously expanded its presence on many fronts through the acquisition of US derivatives exchange LedgerX, Japanese crypto exchange Liquid and developer Game Good Luck Games.

In April 2022, FTX purchased a significant amount of shares of IEX Group Inc., the owner of the famous stock trading platform “Flash Boys”. The CEO of FTX personally also revealed that he successfully bought 7.6% shares of Robinhood for a total of 648 million USD of shares.

In the midst of the market is not very positive, the top richest billionaires in the crypto industry have also “evaporated” billions of dollars in assets, CEO Sam Bankman-Fried has announced his willingness to spend billions of dollars on many acquisitions. Future. Two days later, Binance Labs set up a $500 million investment fund, focusing “all efforts” on Web3.

CHK synthesis

Maybe you are interested: