February 02, 2022 - FTX Trading Ltd has announced that it will acquire Liquid Group and all of its operating subsidiaries including Quoine Corporation and Quoine Pte. in Singapore.

The acquisition is expected to close in March 2022, subject to customary closing conditions being satisfied.

Founded in 2014, Quoine was one of the first crypto exchanges to be registered by the FSA in Japan in 2017. In October 2021, Quoine was granted a Type 1 Financial Instruments Business registration by the FSA and continues to offer its customers a platform for derivatives trading. Following FTX's acquisition of Liquid, Quoine will gradually integrate FTX's products and services into its own offering, and FTX's existing Japanese customers will be migrated to Quoine's platform.

In connection with this acquisition, FTX has also entered into an agreement with Liquid to provide its existing Japanese users with services in compliance with Japanese laws, and will transfer its existing Japanese users to Quoine, with effect from 30 March 2022. Quoine is a wholly-owned subsidiary of Liquid and a licensed Japanese crypto-asset exchange and Type I Financial Instruments Business licensee.

Japanese customers of FTX will receive email notifications with further details on the transition and transfer described above.

FTX and Liquid expect to work together to provide products and liquidity to retail and institutional investors in the Japanese and global markets.

The economic terms of the deal have not been disclosed.