Japanese Bitcoin Exchange Liquid.com has opened two offices in the US. As a joint venture with Virtual Currency Partners, “Liquid USA” is expected to start trading in 2020.
Coinbase & Co. Receive Overseas Competition: Liquid.com, Japan’s largest regulated Bitcoin exchange, is tackling the US market. For this purpose, the Holding Company of Liquid founded with the crypto-consortium Virtual Currency Partners (VCP) a joint venture under the name Liquid Financial USA Inc. (short: Liquid USA). Liquid announced on April 29 in a press release. The expansion follows a successful fundraising, in which also the mining hardware manufacturer Bitmain played a significant role. With the expansion overseas Liquid wants to meet the needs of customers, explains CEO Mike Kayamori:
“The US is one of the world’s largest cryptocurrency markets, and our community, corporate and institutional clients have expressed an interest in serving the US market.
SEC blessing is pending
Of course, the Liquid assumes that the US regulators play along. This is precisely what the Bitcoin Exchange is working on, according to the press release. Apparently, a first step in gaining regulatory blessing is already done:
“The capital, technology and resource commitments have enabled Liquid USA to acquire a FinCEN-registered financial services company through which Liquid gains access to the US market.
FinCEN is the department of the US Treasury Department dedicated to the fight against financial crime. However, the Securities and Exchange Commission also has a say here.
QASH course rises
This is especially true for the exchange’s own coin, QASH. Liquid wants to offer them as utility tokens in the USA. Following the example of the competition, above all Binance, Liquid is currently working on its own blockchain, which bears the name Liquid Distributed Ledger. Upon completion, the ERC20 token will move to the new platform. Again, one may confidently feel reminded of the industry leader Binance and the recently moved Binance Coin (BNB). The QASH share price increased three percent within 24 hours as a result of the press release deadline.
Liquid USA, meanwhile, plans to open crypto trading for US customers by 2020.