“The expansion into Canada is another step towards actively working with cryptocurrency regulators in different parts of the world.”
FTX Trading Limited has agreed to acquire Canada’s crypto asset trading platform Bitvo, Inc., marking the latest license acquisition in FTX’s mission to provide compliant services within the digital asset space.
Based in Calgary, Alberta, Bitvo is registered as a restricted dealer under the securities laws of all Canadian states and territories. The transaction is expected to close in the third quarter of 2022.
The plan is to integrate Bitvo into the FTX Global Team, which serves the Canadian market with a variety of capabilities. Bitvo offers unique features such as Bitvo Same Day Guarantee, Bitvo Cash Card and technical trading analysis tools.
Bitvo was registered with FINTRAC as a money services business in the crypto service provider category and was the first Alberta-based crypto asset trading platform to be registered as a restricted dealer.
Sam Bankman-Fried, Chief Executive Officer of FTX, said: Entry into Canada is another step towards actively working with cryptocurrency regulators in different parts of the world. “
Pamela Draper, CEO of Bitvo, said: .. We look forward to transforming access to Canada’s digital asset ecosystem as part of FTX. “
FTX has launched a licensed Japanese crypto asset exchange service provider and licensee owner of the Type 1 financial instruments business, demonstrating that the brand is expanding worldwide.
FTX Japan KK (formerly Quoine Corporation) has changed its name following the acquisition of its parent company Liquid Group Inc. by FTX earlier this year.
In this way, FTX officially entered the Japanese market. It serves the local crypto community with spot trading and perpetuality of a wide range of digital assets such as BTC, ETH, SOL and FTT. Providing spot and derivative trading platforms for Japanese clients, this exchange supports local clients to quickly deposit and withdraw Japanese Yen.
FTX recently also released FTX stock It provides transparent trading execution and fair pricing for stock trading, initially routing all orders via Nasdaq.
This service is not based on the payment for order flow model and includes partial equity trading of some securities. The exchange will add features such as live pricing, company data and portfolio performance tracking.