- bitFlyer has got 100% of FTX Japan shares and can also simply rebrand the platform by August 26, 2024.
- The Tokyo-primarily primarily primarily based crypto alternate will furthermore birth a brand fresh crypto custody industry thru the fresh subsidiary.
Eastern crypto alternate bitFlyer Holdings has announced the acquisition of FTX Japan, primarily primarily primarily based on an announcement revealed on July 26.
The Tokyo-primarily primarily primarily based alternate well-known that it had done 100% acquisition of FTX Japan shares, a transfer that makes the FTX Japan industry a “wholly-owned subsidiary” of bitFlyer.
“We’re totally joyful to screech that bitFlyer Holdings has as of late done the acquisition of 100% of the prominent shares of FTX Japan,” the alternate posted on X.
bitFlyer Holdingsは本日、FTX Japanの発行済株式100％の取得を完了しましたのでお知らせいたします。
これによりFTX Japanは当社の完全子会社となりました。今後は8/26までに社名を変更し、新たにクリプトカストディ事業を展開する予定です。詳しくはこちら。https://t.co/Ks1aexAFLm pic.twitter.com/bLbqGa4Im8
— bitFlyer（ビットフライヤー） (@bitFlyer) July 26, 2024
bitFlyer to rebrand FTX Japan
Following the acquisition, bitFlyer will rebrand FTX Japan, with this expected by August 26, 2024. The deal will furthermore gaze the fresh subsidiary unveil a brand fresh crypto custody industry that can offer providers and products with developed security to institutional traders.
The bitFlyer team added in a assertion revealed on Friday:
“By buying all shares and administration rights of FTX Japan, we goal to abolish sustainable growth, leveraging synergies internal the bitFlyer Community to get fresh providers and products, benefiting no longer easiest FTX Japan and its potentialities nonetheless all stakeholders of the bitFlyer Community.”
FTX Japan, in the initiating underneath FTX Japan Holdings, filed for Chapter 11 financial damage protection following the give intention of FTX in November 2022.
CoinJournal reported bitFlyer’s plans to construct FTX Japan in June.
