BitFlyer Finalizes Acquisition of FTX Japan, Expanding Its Global Presence

IconCryptoNewsTerminal Staff26 Jul, 2024

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BitFlyer Finalizes Acquisition of FTX Japan, Expanding Its Global Presence

BitFlyer, one of Japan's leading cryptocurrency exchanges, has completed the acquisition of FTX Japan, strengthening its position in the Japanese market. This acquisition brings FTX Japan under BitFlyer's umbrella, establishing a subsidiary that will continue to provide services to Japanese customers. BitFlyer announced that by August 26th, FTX Japan's trade name will change, and services related to cryptocurrency spot ETFs will be considered if regulations in Japan permit. Additionally, BitFlyer plans to offer custody services for institutional investors through BitFlyer Holdings. This acquisition aligns with BitFlyer's growth strategy and its commitment to expanding its global presence. The company had previously expressed its intention to acquire FTX's entire stake last month. With this acquisition, BitFlyer enhances its position as a major player in the Japanese cryptocurrency market and expands its offerings to meet the evolving needs of institutional and retail investors alike.

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