BitFlyer has finalized the acquisition of Japanese crypto exchange FTX's business

 In addition, FTX Japan will be used to organize an experimental platform for future developments for cryptocurrency spot ETFs - for the benefit of BitFlyer Group clients.

By August 26, FTX Japan, a former subsidiary of the bankrupt U.S. cryptocurrency exchange FTX, is expected to change its name.

FTX Japan has been under legal protection under Chapter 11 of the Bankruptcy Act since 2022. The company temporarily ceased exchange operations, but retained its client base and continued to manage client assets.

BitFlyer Holdings did not disclose the amount of the transaction. However, according to Nikkei news agency sources familiar with the negotiations, the Japanese private equity fund headquartered in Singapore, ACA Group, and BitFlyer Holdings were in talks to buy a subsidiary of FTX Group for 45 billion yen (about $370 million).