FTX takes over Canadian regulated crypto platform Bitvo

FTX takes over Canadian regulated crypto platform Bitvo

FTX took over Canadian regulated crypto platform Bitvo

FTX has announced the acquisition of Alberta-based regulated digital asset platform Bitvo. This is stated in a press release.

Terms of the deal were not disclosed. 

If approved by regulators, FTX will take a new step in the global expansion of products and services. The transaction is expected to close in the third quarter. 

In April 2022, Bitvo was the first to obtain a limited dealer license under the securities laws of all provinces and territories in Canada. The firm is also registered with FINTRAC as a money services company.

Bitvo serves clients 24/7, offering instant registration, as well as same-day deposits and withdrawals. The company has released an account-linked Bitvo Cash Card.

Recall that in June, FTX opened a branch in Japan, renaming the previously acquired regulated exchange Liquid to FTX Japan K.K.

Formerly head of the platform Sam Bankman Fried pledged to spend “billions” to buy stakes in other companies.

In January 2022, FTX received a $400 million investment. The exchange was valued at $32 billion. estimated at $8 billion.

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