Japan's bitFlyer completes acquisition of FTX Japan! Will host cryptocurrencies for institutional clients

This site (120BtC.coM): According to local media "Coinpost", the parent company of Japanese cryptocurrency exchange bitFlyer "bitFlyer Holdings" has completed the acquisition of 100% of FTX Japan's equity and made FTX Japan a subsidiary of the group. Wholly owned subsidiary.

Reports indicate that FTX Japan will complete the company name change on August 26 and launch a new business under bitFlyer Holdings. The core business is to provide cryptocurrency custody services to institutional investors. The company noted: A key element of cryptocurrency custody services is high security countermeasures. The bitFlyer Group has deep knowledge and technical capabilities in the blockchain field and has developed security-focused wallets within the bitFlyer company.

bitFlyer Holdings further revealed that as Japan’s domestic regulations gradually improve in the future, the company also plans to provide services related to cryptocurrency spot ETFs.

We are still waiting for the tax system and other legal systems to be improved, but if it is recognized in Japan, we intend to provide trust banks and other financial institutions with crypto-asset spot ETF-related services that meet the needs.

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