FTX, a big player in the crypto industry, has entered a deal to purchase Canadian cryptocurrency firm Bitvo for an undisclosed fee.
According to Finextra, earlier this year Bitvo become the first Alberta-based crypto asset trading platform to register as a restricted dealer, allowing it to offer its services across all provinces and territories in Canada.
The acquisition is anticipated to close in the third quarter of this year and will be subject to regulatory approval and customary closing conditions.
FTX CEO Sam Bankman-Fried said, “We are delighted to enter the Canadian marketplace and continue to expand FTX’s global reach. Our expansion into Canada is another step in proactively working with cryptocurrency regulators in different geographies across the globe.”
Earlier this year, it was revealed that FTX has chosen to deploy Eventus’ Validus platform for trade surveillance and risk monitoring on all FTX markets globally.
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