FTX, a leading regulated global cryptocurrency exchange, has launched FTX Japan to cater Japanese customers.
FTX Japan is headquartered in Tokyo and holds a licensed Japanese crypto-asset exchange services provider and Type 1 Financial Instruments Business license holder approved by the FSA.
Formerly known as Quoine Corporation, FTX Japan K.K. was renamed following the acquisition of its parent company, Liquid Group Inc., by FTX earlier this year.
Sam Bankman-Fried, CEO of FTX and currently serving as Interim CEO of FTX Japan, commented:
“Completing this acquisition earlier this year is a key step in achieving our goal of providing a global investor base with access to digital asset markets through a regulated entity. 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 manner.”
The launch of FTX Japan will allow FTX to offer Japanese customers a platform for spot and derivatives trading. FTX Japan also supports fast deposits and withdrawals of Japanese Yen for local customers.
Sam Bankman pointed out that Japan is a highly regulated market with a potential market size of almost $1 trillion when it comes to cryptocurrency trading.
“With the launch of FTX Japan, we will be able to bring additional products to this market, such as our perpetuals and spot crypto trading. We look forward to further revolutionizing the Japanese digital asset ecosystem through FTX Japan,” Mr. Bankman-Fried concluded.
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