- bitFlyer has acquired 100% of FTX Japan shares and can rebrand the platform by August 26, 2024.
- The Tokyo-based crypto change may also launch a brand new crypto custody enterprise by way of the brand new subsidiary.
Japanese crypto change bitFlyer Holdings has introduced the acquisition of FTX Japan, in line with an announcement revealed on July 26.
The Tokyo-based change famous that it had accomplished 100% acquisition of FTX Japan shares, a transfer that makes the FTX Japan enterprise a “wholly-owned subsidiary” of bitFlyer.
“We’re happy to announce that bitFlyer Holdings has right this moment accomplished the acquisition of 100% of the excellent shares of FTX Japan,” the change 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 anticipated by August 26, 2024. The deal may also see the brand new subsidiary unveil a brand new crypto custody enterprise that can provide companies with superior safety to institutional traders.
The bitFlyer group added in a press release revealed on Friday:
“By buying all shares and administration rights of FTX Japan, we goal to realize sustainable progress, leveraging synergies throughout the bitFlyer Group to develop new companies, benefiting not solely FTX Japan and its clients however all stakeholders of the bitFlyer Group.”
FTX Japan, initially underneath FTX Japan Holdings, filed for Chapter 11 chapter safety following the collapse of FTX in November 2022.
CoinJournal reported bitFlyer’s plans to amass FTX Japan in June.
