FTX Exchange Launches Services In Japan Via FTX Japan

FTX, a Bahamian crypto exchange, plans to expand its services in Japan and has confirmed the launch of FTX Japan, which will be responsible for providing crypto-based services to Japanese customers.

FTX Japan will be operating via FTX Japan K.K., a licensed Japanese crypto-asset exchange services provider and Type 1 Financial Instruments Business license holder, FTX said in a statement. Interestingly, FTX Japan K.K. was previously known as Quoine Corporation which was renamed when the FTX exchange acquired Quoine's parent organization, Liquid Group, a firm with deep BTC/JPY liquidity, earlier this year.

FTX founder and CEO Sam Bankman-Fried, popularly known as SBF, will become the interim CEO of FTX Japan.

"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," SBF said on the launch of FTX Japan.

With the launch of FTX Japan, the Japanese community can increase their exposure to crypto assets and their derivatives. The firm aims to provide "industry-leading products and services, including spot trading and perpetuals for a wide range of digital assets such as BTC, ETH, SOL, FTT, and more." Additionally, local customers will be able to instantly deposit and withdraw the Japanese yen from the exchange.

FTX has been on an expanding spree lately as it launched FTX Stocks, allowing users to invest in the US-listed stocks. The firm also recently expanded in Europe with the launch of FTX Europe.