The Japanese cryptocurrency trading platform, Liquid, has partnered with venture capitalists, Virtual Currency Partners, to create a jointly-owned entity called Liquid Financial USA Inc. They plan to expand Liquid’s services into the US market. The news was revealed in an announcement today. Liquid plans to enter the U.S. market via its holding company, Liquid Group Inc., established in March this year.
As we recently reported, Liquid reached unicorn status with the first close of an ongoing Series C funding round that now values the company at over $1 billion. Founded in 2014, Liquid has achieved unicorn status in less than five years and makes it one of only two tech unicorns in Japan’s startup space. Liquid is the world’s largest crypto-fiat platform by transaction volume, regulated in Japan.
VCP is a consortium of investors and entrepreneurs led by Chairman Barry Schiffman, who has over 30 years’ experience investing in high-growth companies. VCP notably invest in the fintech and cryptocurrency industries.
The US Is One Of The World’s Largest Markets For Cryptocurrencies
The joint venture has already registered with FinCEN and has established offices in both New York and Georgia and are presently working to obtain regulatory approvals. Pending the approvals, they plan to make Liquid’s native token, QASH, available for utility and trading to US customers.
“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,” said Liquid Co-founder and CEO Mike Kayamori . “We look forward to working closely with Virtual Currency Partners to accelerate our platform growth”.
Barry Schiffman added: “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 5 cryptocurrency exchanges in the world”.
The company expects onboarding of US clients by January 2020.
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