On Thursday, the leading regulated global cryptocurrency exchange, FTX announced that it has launched FTX Japan for offering service to Japanese users.
FTX Japan will help in offering industry-leading products and services, like spot trading and perpetuals for a wide range of digital assets such as BTC, ETH, SOL, FTT, and more to the Japanese crypto community. FTX Japan will also aid in fast deposits and withdrawals of Japanese Yen for local users.
Sam Bankman-Fried, CEO of FTX (and meanwhile the CEO of FTX Japan), commented that the acquisition conducted earlier this year is significant in providing global investor base with access to crypto markets through a regulatory body.
He further said, “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.”
FTX Japan is functioning via FTX Japan K.K. and is a licensed Japanese crypto-asset exchange services provider.
FTX Japan is a Type 1 Financial Instruments Business license holder. FTX Japan K.K. (formerly, Quoine Corporation), was renamed after the acquisition of its parent company, Liquid Group, by FTX earlier this year.
The CEO thus concluded saying that Japan is a highly regulated market with a potential market cap of $1 trillion when it comes to crypto trading.
The establishment of FTX Japan will help to introduce added products to this market, including perpetuals and spot crypto trading. He said, “We look forward to further revolutionizing the Japanese digital asset ecosystem through FTX Japan.”
Also read: Goldman Sachs is Discussing Derivative Trading Deal with FTX
