Japanese exchange Liquid, which obtained debt financing from FTX, announces acquisition of regulatory license for derivatives in Japan

Japanese cryptocurrency exchange Liquid announced that its parent company, Quoine Corporation, has registered as a Type 1 financial instrument business under Japan's Financial Instruments and Exchange Act on Tuesday (10/26) this week.

FTX Extended an Olive Branch, Potential Collaboration in Sight

In early August, the Liquid exchange fell victim to a hacking incident resulting in a loss of over $90 million. Following this, an agreement was reached with FTX to provide a $120 million loan to Liquid Global to help alleviate its financial issues.

Both parties expressed willingness for collaboration at the time.

Official statements from Liquid at the time indicated that FTX's debt financing inspired them and promised to expedite Liquid's product roadmap, introducing innovative products to markets in Japan and other jurisdictions. Additionally, Seth Melamed expressed his excitement for the opportunity to collaborate with FTX, combining FTX's expertise in financial products with their compliance and regulatory experience in Japan and Singapore.

Currently, there has been no disclosure on the specifics of their collaboration, but given FTX's recent commitment to compliance, it is likely that FTX will leverage Liquid's compliance experience or collaborate to expand their operations.