Japanese Crypto Firm Liquid Acquired by FTX

Sam Bankman-Fried’s crypto exchange FTX has seen immense success over the past couple of months: from partnerships with Visa, to securing large funding rounds, and reaching a total value of $8B.

According to the official announcement by Liquid, the FSA-registered crypto exchange has made the deal in order to comply with Japanese laws. Despite the acquisition, both crypto exchanges will seemingly be working together as "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."

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

NEAR Protocol Explained: Beginner's Guide to NEAR (Animated)

SUBSCRIBE

ON YOUTUBE

Also, FTX will move Liquid's Japanese customers to Quoine, because Quoine is a subsidiary exchange that acquired the Type I Financial Instruments Business license earlier last year. 

Quoine was founded in 2014, with headquarters in Tokyo. After launching another crypto trading platform Qryptos in 2017, and securing a business license with Japan’s FSA, it was merged with Quoine in 2018. 

Meanwhile, FTX’s acquisition deal with Quoine should be closed sometime in March of 2022, and Liquid’s existing users will be moved to Quoine starting March 30th of 2022. FTX assured that Liquid’s users from Japan will be required to comply with Japanese laws after the deal has been made.

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Full Bio

All Expert Contributors & Analysts