Crypto:
30604
Bitcoin:
$62.308
% 3.77
BTC Dominance:
%53.6
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Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
Bitcoin:
$ 62.308
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

BitFlyer Acquires FTX Japan for Institutional Custody

Bitflyer

Reports by Japan’s national radio service indicate that FTX Japan will soon be owned by Japanese crypto exchange BitFlyer.

Expected to pay several billion yen to buy all of FTX Japan’s shares, BitFlyer essentially gains control of the business, NHK said on Thursday. According to the article, the corporation intends to restart FTX Japan as a digital asset management or custody company for institutional clients.

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Just a few months before its parent business filed for bankruptcy, FTX Japan started in 2022. Among the four independently run subsidiaries FTX has moved to sell throughout its continuous bankruptcy process is this one.

Adoption of digital assets has surged dramatically in Japan recently. Based on data from the Japan Cryptocurrency Exchange Association, cryptocurrency accounts numbered more than 10 million as of April 2024, up almost 300% from the count of accounts in the nation in 2019, according to NHK.

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