FTX acquired Japanese crypto exchange Liquid Group to serve Japanese customers through its new subsidiary.
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The deal is expected to close in March, according to a press release on Wednesday.
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The companies did not disclose the acquisition value. In April 2019, Liquid’s valuation was over $1 billion.
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FTX also acquired Quoine, one of 30 exchanges registered with Japan’s Financial Service Agency (FSA), which holds a Type I Financial Instruments Business license for trading securities and derivatives.
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FTX and Liquid Group did not respond to request for comment.
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The Japanese exchange lost over $90 million in a hack in August 2021, after which FTX gave it a $120 million loan.
