Today, FTX, one of the leading crypto trading services providers, announced the official launch of FTX Japan. Headquartered in Tokyo, FTX Japan is a licensed crypto services provider and Type 1 Financial Instruments Business license holder approved by the Financial Services Agency (FSA) in Japan.
The details shared by the company show that FTX Japan will offer customers a platform for spot and derivatives trading. In a recent announcement, Sam Bankman-Fried, the Chief Executive Officer at FTX, said that the company is planning to 'revolutionize' the digital asset ecosystem in Japan through its newly launched Japanese arm.
“FTX Japan, operating via FTX Japan K.K. ('FTX Japan'), is a licensed Japanese crypto-asset exchange services provider and Type 1 Financial Instruments Business license holder. 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,” the company added in the press release.
Earlier in 2022, FTX announced the acquisition of Liquid which included all operating subsidiaries of the Group like Quoine Corporation and Quoine Pte. in Singapore.
Japanese Market
Japan is one of the fastest-growing crypto markets in the world. To support regional clients, FTX Japan will facilitate deposits and withdrawals through the Japanese Yen.
"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," Bankman-Fried said.
“Completing the acquisition earlier this year was 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 CEO of FTX added.
