fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Tech Cryptocurrency

Temasek-backed cryptocurrency exchange FTX launches in Japan

Team AsiaTechDaily by Team AsiaTechDaily
03 June 2022
in Cryptocurrency, Featured
0
FTX
8
SHARES
Share on FacebookShare on Twitter
Bookmark(0)

Please login to bookmark

No account yet? Register

Customers in Japan can now use FTX, a cryptocurrency exchange headquartered in the Bahamas.

Quoine Corporation, which was acquired by FTX earlier this year and renamed FTX Japan, will handle the company’s activities in the country. The company is currently licensed to provide cryptocurrency exchange services and operates as a Type 1 Financial Instruments Business.

According to Bankman-Fried, Japan’s “highly controlled industry” for crypto trading has a $1 trillion potential, and his company will now be able to service the domestic market in both permanent and spot trading.

He added that the acquisition provides them with a technology advantage as well as the ability to deal directly with Japanese regulators.

Bankman-Fried is the interim CEO of FTX Japan.

FTX Japan, according to Bankman-Fried, will continue to revolutionize the Japanese digital asset ecosystem.

FTX bought Japan-based fintech business Liquid Group and its subsidiaries in February, gaining access to the company’s Type 1 Financial Instruments Business license.

The exchange’s US branch purchased cryptocurrency derivatives platform LedgerX last year in order to obtain Ledger’s license to offer bitcoin fractional derivatives contracts.

In 2020, the exchange bought Blockfolio, mobile news, and portfolio tracking app, and renamed it FTX a year later.

FTX raised $400 million in a Series C round of fundraising in January to expand its services and acquisitions into international markets, allowing it to take up licenses from domestic corporations.

The company’s most recent acquisition allowed it to take advantage of Liquid’s existing licensing as a crypto asset exchange services provider, which was critical to the company’s expansion in the country.

Founded in 2018, FTX is a cryptocurrency and other asset trading platform that includes prediction markets, options, and volatility products.

Temasek, Sequoia Capital, and Sea Group investment arm Sea Capital, among others, contributed US$420 million to the company in October 2021.

The corporation was valued at $25 billion in the acquisition.

What are your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Previous Post

Indonesian rural e-commerce startup Dagangan raises $6.6m funding

Next Post

Australian adtech firm Veridooh raises $5m in funding to finance global expansion

Related Posts

541 Ventures
Featured

541 Ventures, a new Los Angeles-based firm looking to globally empower Asian founders in frontier tech

July 6, 2022
MarketWolf
Featured

Fintech stock trading platform MarketWolf scores $10m funding

July 5, 2022
Juragan Material
Featured

Juragan Material raises $4M funding from Go-Ventures

July 5, 2022
PINA
Featured

Indonesia’s PINA secures $3m in fresh capital from AC Ventures, others

July 5, 2022
Intrepid
E-commerce

Ascential acquires Singapore’s e-commerce solutions firm Intrepid

July 4, 2022
Mapan
Featured

Indonesian fintech Mapan raises $15m Series funding

July 1, 2022
Next Post
Veridooh

Australian adtech firm Veridooh raises $5m in funding to finance global expansion

Discussion about this post

No Result
View All Result

Follow Us

FREE NEWSLETTER




Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo