Crypto exchange FTX has acquired Liquid Group and its subsidiary, the fintech firm announced today. The Group includes Quoine Corporation and Quoine Pte. in Singapore.
The acquisition is expected to be completed in March 2022, the financial details of the transaction have not been disclosed
Quoine was founded in 2014 and was one of the first crypto exchanges registered in Japan with the FSA in 2017. The company secured Type 1 Financial Instruments Business registration by the FSA in 2021.
Following Liquid’s acquisition by the FTX, Quoine will integrate FTX’s products and services into its own offering, according to the official announcement. FTX’s existing Japanese customers will be migrated to Quoine’s platform.
FTX has also agreed to provide Liquid’s existing Japanese users with services in compliance with Japanese laws. From 30 March 2022 Liquid will transfer its existing Japanese users to Quoine.
FTX’s Japanese customers will receive further details on the transaction and transfer.
Last month, FTX Trading Limited launched a $2 billion venture capital fund focused on digital asset ecosystem, FTX Ventures.
