Vision

Status

Tokyo-based BitFlyer Holdings&nbsp;<a style="text-decoration:none" href="https://coinpost.jp/?p=547568">announced</a> the full acquisition of FTX Japan, securing all outstanding shares and integrating it as a wholly owned subsidiary. This strategic move aims to enhance BitFlyer’s crypto custody services and position it as a leader in the upcoming cryptocurrency spot exchange-traded funds (ETFs) market in Japan.
<h2 dir="ltr" id="span-span-details-of-the-acquisition-span-span">Details of the Acquisition</h2>
BitFlyer, licensed by Japan's Financial Services Agency since 2017, is ranked 22nd globally by trading volume, primarily driven by BTC/JPY transactions. The acquisition of FTX Japan was announced by Yuzo Kano, CEO of BitFlyer Holdings, in a Friday post on X.&nbsp;
&nbsp;
Kano emphasized the importance of security technology in safely storing physical BTC, which will serve as the backing asset for future ETFs.
<div>
 <blockquote class="twitter-tweet">
 米国ではビットコインETF上場をきっかけに、機関投資家からの資金流入が加速しています。 日本でもETFが上場する日が来ると信じています そして、ETFの裏付け資産となる現物BTCを安全に保管できるセキュリティ技術を保有した会社が必要です。… <a href="https://t.co/0d1FZbNYwW">https://t.co/0d1FZbNYwW</a>— 加納裕三@bitFlyer (@YuzoKano) <a href="https://twitter.com/YuzoKano/status/1816703511079584041?ref_src=twsrc%5Etfw">July 26, 2024</a>
 </blockquote> 
</div>
<h2 dir="ltr" id="span-span-strategic-goals-and-institutional-custody-span-span">Strategic Goals and Institutional Custody</h2>
The acquisition aligns with BitFlyer’s strategic goals on two main fronts.&nbsp;
<ul>
 <li>Firstly, the company aims to enhance its crypto custody services with advanced security features designed for institutional investors.&nbsp;&nbsp;</li>
 <li>Secondly, BitFlyer plans to offer services related to cryptocurrency ETFs, contingent on the establishment of appropriate legal frameworks in Japan.</li>
</ul>
<h2 dir="ltr" id="span-span-kano-s-vision-for-crypto-etfs-in-japan-span-span">Kano's Vision for Crypto ETFs in Japan</h2>
Kano expressed optimism about the timeline for launching crypto ETFs in Japan, drawing parallels with the United States, where institutional investment has surged following the introduction of Bitcoin ETFs. He highlighted that ETFs can significantly contribute to the price appreciation of underlying crypto assets.&nbsp;
&nbsp;
In the US, Bitcoin ETFs accounted for about 75% of new investment in the cryptocurrency by February 15, 2023, as it surpassed the $50,000 mark.
<h2 dir="ltr" id="span-span-enhancing-security-and-institutional-investments-span-span">Enhancing Security and Institutional Investments</h2>
Upon rebranding and integrating FTX Japan, BitFlyer will concentrate on launching a crypto custody business primarily targeting institutional investors. This service will emphasize high-security measures to protect digital assets.&nbsp;
&nbsp;
An official statement from BitFlyer reads:&nbsp;
<blockquote>
 “Our extensive expertise in blockchain technology and our proprietary security-focused wallet solution reinforce our commitment to securing institutional investments.”
</blockquote>
<h2 dir="ltr" id="span-span-ftx-japan-s-background-and-financial-status-span-span">FTX Japan's Background and Financial Status</h2>
Following the acquisition of fintech company Liquid Group and its subsidiaries, including Quoine Corporation,&nbsp;<a style="text-decoration:none" href="https://protos.com/everything-thats-happened-with-ftx-in-2023/">FTX Japan</a> was launched in June of 2022.&nbsp;
&nbsp;
However, just five months later, its parent company collapsed amid allegations of embezzlement and misappropriation. Despite this, FTX Japan reported having more assets than liabilities, with $134 million in segregated user assets, raising hopes for recovering funds for Japanese customers.

Tokyo's BitFlyer Acquires FTX Japan, Aims For Crypto ETFs

目录

BSCN

发布于 2024年7月30日的其他文章

Ripple (XRP) Executives Speak Out Following Today’s SEC Action

Citron Founder Pleads Not Guilty to Short-Selling Fraud Case

Bitcoin Stabilizes Ahead of Critical Weekly Close Amid Presidential Candidates’ Crypto Plans

Wrapped Bitcoin Decreases More Than 3% Within 24 hours

Hamster Kombat Airdrop, Potentially The Largest In History, Delayed As OKX Announces Pre-Market F...

Toncoin (TON) Struggles to Maintain $7 Support Amid Market Downturn

订阅我们免费的电子期刊，获取每日最新加密领域动态！