FTX announced the launch of FTX Japan, which will provide cryptocurrency derivatives. SBF: Hoping to bring innovation to the Japanese market.

FTX announced the launch of FTX Japan in Japan today (3), serving Japanese users. FTX Japan is a compliant exchange in Japan, licensed by the Japanese Financial Services Agency, registered as a Type 1 financial instruments business under the Financial Instruments and Exchange Act. This allows FTX Japan to offer compliant cryptocurrency derivative products in Japan.

FTX announced the launch of FTX Japan in Japan on March 3rd, catering to Japanese users. FTX Japan is a compliant exchange in Japan, licensed by the Japanese Financial Services Agency, registered as a Type 1 financial instruments business under the Financial Instruments and Exchange Act, allowing FTX Japan to offer compliant crypto derivative products in Japan.

According to the press release, FTX Japan will be operated through a company named "FTX Japan K.K." The predecessor of FTX Japan K.K. was Quoine Corporation, with the parent company being Liquid Group Inc., and FTX completed the acquisition of the company in February this year.

The launch of FTX Japan marks FTX's entry into Japan, providing compliant crypto derivatives to Japanese users, including spot trading and perpetual contracts for various digital assets such as BTC, ETH, SOL, FTT, and more.

Notably, FTX Japan also supports fiat services for users, allowing for quick withdrawals and deposits in Japanese Yen.

Following the launch of FTX Japan, Sam Bankman-Fried, CEO of FTX, will temporarily assume the role of CEO of FTX Japan. SBF mentioned that the acquisition in February was crucial in enabling them to offer compliant crypto derivatives services to global investors. "The acquisition in February not only gave us a technological advantage but also allows us to collaborate with Japanese regulators in a more proactive and transparent manner to provide constructive digital asset regulatory feedback."

SBF further stated that Japan is a highly regulated country in terms of the crypto market, with a potential market size close to 1 trillion USD. "The launch of FTX Japan represents our ability to offer more products and services to the Japanese market, such as perpetual contracts and spot trading. We look forward to further innovating the Japanese digital asset ecosystem through the platform of FTX Japan."

FTX has been aiming to provide compliant services across continents and has established FTX US, FTX Europe, and FTX Australia. FTX Australia has obtained an Australian financial services license, while FTX Europe is regulated by the Cyprus Securities and Exchange Commission (CySEC), both offering spot and crypto derivative trading.

Although FTX US currently only offers spot and NFT trading, through the acquisition of LedgerX, it has obtained three regulatory licenses from the CFTC and is currently submitting a proposal to the CFTC to replace traditional futures broker intermediaries FCMs with "algorithmic automatic clearing." Once the proposal is approved, FTX US will be able to offer compliant crypto derivatives in the United States. The proposal is still in the discussion stage.