TOKYO—Japanese crypto trading platform Liquid.com and Virtual Currency Partners (VCP) have joined hands to form a joint venture – Liquid Financial USA Inc. (Liquid USA) – to enter the US market.
The joint venture has already registered with FinCEN and established offices in two states in the country – New York and Georgia. The company is now pushing to get approvals from various US regulators to start its services in all states in the country, Finance Magnates reported.
“The U.S. is one of the world’s largest markets for cryptocurrency and we have received widespread expressions of interest from our community, corporate and institutional customers to serve the US market,” said Mike Kayamori, Liquid’s co-founder and CEO.
Launched in 2014, Liquid is a subsidiary of Japanese fintech giant Quoine. The platform allows its users to access a global network of cryptocurrency exchanges.
“This joint venture and the acquisition of IQX represents our commitment to expand in the U.S., and we look forward to working closely with Virtual Currency Partners to accelerate our platform growth. I am personally honored and excited to be working again with Barry Schiffman, the Co-founder and former Executive Managing Director at Globespan Capital Partners, a mentor of mine from my days at Globespan dating back to 2003,” Kayamori added.
Goal to Expand
The partnership with VCP will also boost the company’s aim of expansion in the new market, Finance Magnates said.
“After nearly a year of studying the cryptocurrency space and researching a number of players, we were extremely impressed with Liquid and the strong foundation it built for itself as Japan’s first FSA-approved cryptocurrency exchange and one of the top five cryptocurrency exchanges in the world,” Schiffman said.