bitFlyer Holdings Acquires FTX Japan Subsidiary
According to a recent tweet, bitFlyer Holdings has successfully completed the acquisition of the Japanese subsidiary of the shuttered cryptocurrency exchange FTX.
Transition to Cryptocurrency Custody Business
The acquisition process was finalized on July 26, with plans to change the company name by August 26. bitFlyer highlights that their internally developed wallet technology will be a key element of their new cryptocurrency custody business.
Future Plans and Industry Outlook
Looking forward, bitFlyer is gearing up for the potential approval of a Japanese cryptocurrency spot ETF. They are also preparing tailored services for trust banks and financial institutions in this evolving market sector. The CEO of bitFlyer expressed optimism about the listing of ETFs in Japan following the success of the Bitcoin ETF in the United States, with a focus on expanding their custody business to serve as industry infrastructure.
Additionally, the acquisition of FTX Japan’s subsidiary addresses the concerns of FTX Japan customers, offering them the option to transfer their accounts to bitFlyer, Inc.
Also read: US candidate Robert F. Kennedy Jr: “Most of my wealth is in Bitcoin”
