The cryptocurrency exchange FTX announced the launch of FTX Japan — a division to serve customers in Japan.
According to the press release, Sam Bankman-Fried’s company renamed acquired earlier the Liquid exchange to FTX Japan K.K. The latter holds a license to provide digital asset exchange services and permission to operate in the financial instruments space from FSA.
The headquarters of the new division is in Tokyo. Its interim chief executive officer is Bankman-Fried.
The company noted that the launch of FTX Japan would enable it to offer Japanese clients a wide range of products and services, including spot trading and derivatives. The platform also supports deposits and withdrawals in yen.
Crypto.com also announced its entry into the market. It has received a provisional license as a virtual asset provider from VARA.
https://t.co/vCNztABJoG is proud to announce it has received provisional approval of its Virtual Asset MVP License from the Dubai Virtual Assets Regulatory Authority (VARA)
Full details 👇https://t.co/4nxPIUYQ9b
— Crypto.com (@cryptocom) June 3, 2022
The company noted that VARA issued a provisional license after Crypto.com submitted documents demonstrating its compliance with regulatory requirements.
After the agency’s final review and the grant of a full license, Crypto.com intends to expand its product line in the region, launching new services for professional investors.
Earlier in May, Binance outlined plans to launch a regulated crypto exchange in the Middle East. The base for the platform will be licenses obtained in Dubai and Bahrain.