Liquid Global Exchange Receives $ 120 Million Loan From FTX Trading

Liquid Global cryptocurrency exchange uses debt financing secured by FTX Trading to increase equity capital and liquidity ratios.

FTX, a cryptocurrency exchange led by billionaire Sam Bankman-Fried, has agreed to provide Japanese exchange Liquid Global with a $ 120 million loan. liquidity.

“We are encouraged by the support of FTX. Liquid will direct the funds received to replenish capital and projects that will help generate additional liquidity. This will increase the chances of Liquid’s subsidiary, Quoine Pte, to obtain renewed licenses in Japan and Singapore, ”the exchange said.

Liquid’s subsidiary Quoine Pte has previously applied to regulators in Japan and Singapore for a brokerage license and a license to provide digital payment services under the 2021 Payment Services Amendments.

Liquid Global was founded in 2014 and is ranked 20th in the CoinMarketCap exchange ranking. The trading volume for the last 24 hours was $ 66.5 million.

Commenting on the bilateral agreement, Bankman-Fried said:

“Our partnership with Liquid allows both organizations to pull together and strengthen the belief that cryptocurrency regulation and KYC procedures have become an important part of the future of our industry.”

FTX Trading is the owner and operator of the FTX.COM cryptocurrency exchange. FTX’s revenue has grown more than 85 times since its launch in May 2019.


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