Crypto exchange Liquid has now filed applications to rebrand its subsidiary’s name from QUOINE to ‘FTX Japan’ following the exchange’s acquisition of the Japanese exchange.
Starting April 1, ‘QUOINE Corp.’ will be called ‘FTX Japan Co., Ltd.’. The companies have also changed their service name from ‘Liquid by Quoine’ to ‘Liquid by FTX’, transferring all login information and assets to the new entity.
Earlier last month, popular crypto exchange FTX announced that it has acquired Japan-based crypto exchange Liquid and its subsidiaries, including Quoine Corporation.
FTX is pleased to announce the acquisition of the Liquid group of companies, including an FSA-registered crypto-asset exchange to provide products and services to our customers in Japan! 🇯🇵https://t.co/rO5TznWFCU
— SBF (@SBF_FTX) February 2, 2022
Quoine Corporation became the first crypto fintech company to register with Japan Financial Services Agency (JFSA) in 2017. In October 2021, the subsidiary obtained a Type I Financial Instruments Business license under the Financial Instruments and Exchange Act from the Japanese regulatory authorities.
After the Japanese crypto exchange suffered a nearly $100 million hack last August, FTX provided a loan of $120 million to Liquid Global to help stabilize its capital position and exchange liquidity.