FTX Trading acquires Japanese fintech firm Liquid Group

FTX Trading Ltd. is purchasing Japanese financial technology firm Liquid Group Co. Ltd. for an undisclosed consideration.

The acquisition covers all of Liquid's subsidiaries including Japanese cryptocurrency exchange Quoine Corp. and Singapore-based Quoine Pte. Ltd.

Quoine, which offers a platform for derivatives trading, will gradually integrate FTX's products and services, according to a Feb. 2 news release. Meanwhile, existing FTX customers in Japan will be transferred to Quoine, effective March 30.

Completion of the transaction is expected in March, subject to customary closing conditions.