• May 31, 2023

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FTX Buys Japanese Cryptocurrency Exchange Liquid

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Crypto exchange FTX has recently announced that it intends to purchase Japanese company Liquid Group and its subsidiaries, which include a crypto exchange with license to operate in the country.

According to the announcement, FTX is set to purchase Quoine Corporation and Quoine Pte. in Singapore. It is important to note that Quoine was one of the first cryptocurrency exchanges to receive a license from the Japanese regulator in 2017 and operates under the Liquid brand.

The amount that FTX will have to pay to acquire Liquid Group remains unknown. However, Liquid was valued over $1B in its first investment round 3 years ago. The deal is expected to close in March.