The crypto trading platform Liquid has announced that it has entered into a new partnership in order to enter the USA market.
Thanks to this agreement between the Japanese crypto trading platform Liquid.com and Virtual Currency Partners (VCP), a joint venture called Liquid Financial USA Inc. (Liquid USA) was created to land in the US market.
The company’s offices have been located in New York and Atlanta, Georgia.
Liquid.com was launched in 2014 and is a subsidiary of Japanese fintech giant Quoine.
At the beginning of April, they revealed that they had closed the “C Series” of their financing rounds, which led to their overall valuation of more than a billion dollars: this makes them one of the few crypto startups to be defined as unicorns.
VCP is a consortium of investors and entrepreneurs who invest in the fintech sector and in cryptocurrencies. It is led by Barry Schiffman, who has over 30 years of experience in investing in high-growth companies through his role as Executive Managing Director at JAFCO Ventures, the US arm of Japan’s largest venture capital fund JAFCO.
Liquid USA has already been registered with FinCEN so that it can have regular access to the US market. The goal is to provide US customers with the complete Liquid product offering in full compliance with local regulations.
The company is currently awaiting all regulatory approvals, after which it will make Liquid’s native token, QASH, available for trading in the US. Trading operations are expected to start by 2020.
Co-founder and CEO Liquid 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”.
Barry Schiffman commented:
“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. I am pleased to be working with Mike again, building upon our relationship from Globespan. We are excited to join the Liquid family and to lead its expansion into the US”.