Japanese Exchange Liquid Plans To Expand To United States

The newest altcoin news give us insights on one crypto trading platform. We are talking about the Japanese exchange Liquid which has recently partnered with venture capital consortium Virtual Currency Partners (VCP) in order to create a jointly owned entity that would allow the exchange to expand to the United States.

These news went viral on many best cryptocurrency news sites after they was officially announced on April 29th. As reported recently, the Japanese exchange Liquid has hit an unicorn status earlier this month with their first closing of an ongoing Series C funding that put the company’s valuation at over $1 billion.

As the today’s announcement noted, the crypto exchange Liquid and VCP’s joint entity which is named Liquid Financial USA Inc. (Liquid USA) will support the expansion of the crypto trading services that Liquid offers in the US. Right now, the entire thing is subject to regulatory approvals however Liquid’s plans are to enter the US market via its holding company, Liquid Group Inc. which was founded in March 2019 as the announcement shows.

As the co-founder and CEO Mike Kayamori said:

“The US 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. This joint venture and the acquisition of IQX represents our commitment to expand in the US, 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.”

The latest cryptocurrency news showing the Japanese exchange Liquid and its expansion also show a FinCEN-registered money service business to ensure that the exchange can launch the full range of its offerings in the US. This will include the creation of the native token of Liquid, named qash, available for utility and trading to many US residents.

As the announcement featured in the altcoin news also shows, VCP is a consortium of investors and entrepreneurs that are investing in the fintech and crypto sectors and is headed by chairman Barry Schiffman.

Right now, Liquid USA is reportedly working to secure the regulatory approvals US-wide and is growing its team with the hope of onboarding US clients by January 2020.