FTX Acquires Alberta-Primarily based Restricted Seller to Increase Canadian Presence
The acquisition of Bitvo, Inc. marks one other step in FTX’s world enlargement of services and products
CALGARY, Alberta, June 17, 2022 /CNW/ — FTX Buying and selling Restricted (“FTX”), a number one world crypto-asset buying and selling platform, right this moment introduced that it has entered into an settlement to amass Bitvo, Inc. (“Bitvo” or “the Firm”), a Canadian crypto asset buying and selling platform, registered as a restricted seller beneath the securities legal guidelines of all provinces and territories in Canada. The acquisition marks the newest licence acquisition in FTX’s mission to offer its industry-leading services and products to its world prospects in a regulated trend. The acquisition is predicted to shut within the third quarter of 2022, topic to regulatory approval and customary closing circumstances.
Bitvo is a crypto asset buying and selling platform providing Canadians a safe and straightforward means to purchase, promote and commerce crypto property. In April 2022, the Firm grew to become the primary Alberta-based crypto asset buying and selling platform to register as a restricted seller, permitting it to supply crypto asset buying and selling providers throughout all provinces and territories in Canada. Bitvo can be registered with FINTRAC as a cash providers enterprise within the digital asset service supplier class.
Sam Bankman-Fried, CEO of FTX, commented on the information, “We’re delighted to enter the Canadian market and proceed to increase FTX’s world attain. Our enlargement into Canada is one other step in proactively working with cryptocurrency regulators in numerous geographies throughout the globe.”
Following the completion of the acquisition, Bitvo is predicted to be built-in into the FTX world crew serving the Canadian market in quite a lot of capacities.
Pamela Draper, CEO of Bitvo, concluded, “Canada has proven a rising curiosity in digital asset buying and selling, and we’re thrilled to assist present entry into one of many main regulated crypto asset buying and selling platforms on the planet to the Canadian cryptocurrency group. We look ahead to reworking Canadian’s entry to the digital asset ecosystem as a part of FTX.”
About FTX.COM
FTX is a crypto asset buying and selling platform constructed by merchants, for merchants. FTX strives to be an intuitive but highly effective platform for every kind of customers, and to be probably the most revolutionary buying and selling platform within the {industry}.
To study extra about FTX.COM, please go to: https://ftx.com/
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About Bitvo
Bitvo (www.bitvo.com) is a crypto asset buying and selling platform that facilitates shopping for and promoting of crypto property by its best-in-class web site and cell functions. Bitvo differentiates itself by making transacting in crypto property simpler than anybody else and providing proprietary options such because the Bitvo Identical Day Assure, the Bitvo Money Card and technical buying and selling evaluation instruments.
Media Contacts
Jay Morakis
M Group Strategic Communications (for FTX)
+1 646 859 5951
[email protected]
Pam Draper
Bitvo, Inc.
+1 587 885 2170
[email protected]
SOURCE FTX