The cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. FTX is launched in Japan following the acquisition of the domestic company Liquid Group.
- FTX can now provide services in Japan
- The exchange acquired Liquid Group in February
- Will offer spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. and derivatives trading
Leading exchanges continue to expand around the world! The cryptocurrency exchange FTX can now service the Japanese cryptomarket that holds a potential USD $1 trillion, reported CEO Sam Bankman-Fried.
This exchange will offer spot and derivative a financial instrument deriving its value from the value of an underlying asset. products, thanks to its Type 1 financial instruments trading license.
This expansion of the exchange came four months after the acquisition of a regulated domestic market an area or arena, online or offline, in which commercial dealings are conducted. in the Asian country earlier this year. In February, FTX acquired Japan-based fintech company Liquid Group and its subsidiaries, granting stock exchange access to the company’s Type 1 financial instruments trading license.
Formerly known as Quoine Corporation, it is expected that FTX Japan K.K offer Japanese customers a platform a place to buy, sell and store cryptocurrency for spot and derivative trading.
More and more business
In this way, FTX continues to acquire cryptocurrency companies and Blockchain, and in this way hopes to further position itself as one of the main markets for cryptocurrency trading.
Last year, the U.S. arm of the exchange bought cryptocurrency platform LedgerX to obtain the license of Ledger a record of financial transactions that cannot be changed, only appended with new transactions. to offer fractional derivative contracts of Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. .
In addition, the exchange acquired mobile news and portfolio a collection of cryptocurrencies or crypto assets held by an investment company, hedge fund, financial institution or individual. tracking application Blockfolio en 2020 antes de cambiarle el nombre a FTX a year later.
Its most recent acquisition has enabled FTX take advantage of the state of Liquid as an existing licensed cryptoasset a cryptoasset is any digital asset that uses cryptographic technologies to maintain its operation as a currency or decentralized application. exchange service provider in a move that was pivotal to FTX’s expansion in the country, said FTX CEO Sam Bankman-Fried.
“The acquisition not only gives us a technological advantage, but also allows us to work directly with Japanese regulators in a transparent, constructive and positive way.” Bankman-Fried said in a news release.
In January, FTX raised an additional $400 million in funding through a Series C raise to expand its services and acquisitions in international markets, allowing it to acquire licenses from domestic companies.
El “highly regulated regulation is when something is controlled by a specific set of rules. market” of Japan for cryptocurrency trading holds USD $1 trillion in potential, Bankman-Fried said, adding that his company could now cater to the domestic market in both perpetual and spot trading. He highlighted:
“We look forward to further revolutionizing the Japanese digital digital technologies are these electronic tools that have the ability to generate, store or even process data. asset ecosystem through FTX Japan.” .
Bankman-Fried is one of those who think that the crypto market needs regulations to operate better and not bans, that’s why it targets this country. which has a number of regulations.
Version of DiarioBitcoin
Imagen de Unsplash