1 year ago
78 FTX has launched a licensed Japanese crypto-asset exchange services provider and Type 1 Financial Instruments Business license holder in a move that signals the brand’s expansion across the globe.
FTX Japan K.K., formerly known as Quoine Corporation, was renamed following the acquisition of its parent company, Liquid Group Inc., by FTX earlier this year.
FTX has thus officially entered the Japanese market and will be serving its local crypto community with spot trading and perpetuals for a wide range of digital assets such as BTC, ETH, SOL, FTT. The exchange, which will offer Japanese customers a platform for spot and derivatives trading, supports fast deposits and withdrawals of Japanese Yen for local customers.
Japan: A highly regulated market with a potential market size of almost $1 trillion
Sam Bankman-Fried, CEO of FTX and currently serving as Interim CEO of FTX Japan, said: “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.”
“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.”
Headquartered in Tokyo, FTX Japan holds a licensed Japanese crypto-asset exchange services provider and Type 1 Financial Instruments Business license holder approved by the FSA.
FTX adds fractional stock trading
FTX has recently launched FTX Stocks to provide transparent trade execution and fair pricing on stock trading, initially routing all orders through Nasdaq.
The service is not based on the payment for order flow model and will include fractional share trading in select securities. The exchange plans to add features such as live prices, company data, and portfolio performance tracking.
FTX US made headlines when the exchange has become an investor in New York City-based IEX Group, the eighth largest stock exchange operator globally.
The startup took a bet and made a strategic investment in the “Flash Boys” exchange as it aims to leverage its expertise and infrastructure to establish a regulated marketplace for buying, selling, and trading digital asset securities.
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