Liquid exchange is not slowing down, despite the August hack. Currently, it is now seeking to offer derivatives trading to its Japanese users.
More so, the exchange declares getting a Type 1 Financial Instruments Business license through its subsidiary.
Furthermore, Liquid confirms during a blogpost, saying that QUOINE Corporation, its subsidiary, got the license under the Financial Instruments and Exchange Act on October 26.
Also, the exchange is looking to provide derivative products for both retail and institutional investors.
Notably, Liquid exchange says it’ll offer customer-centric, innovative, and compliant derivative products for both retail and institutional investors.
Actually, there are very few institutions to receive the license. Of course, Liquid vows to hold its services and products to the highest standards.
Seth Melamed, the chief operating officer at Liquid, comments.
“The Type 1 license issuance is the culmination of a great deal of preparation and…”
“collaboration by the entire Liquid team. It is also a validation that trading derivatives in…”
“crypto can be done in a compliant manner with full customer protections & transparency.”
Notably, This license is coming just two months after the exchange’s hack.
Recall, Liquid exchange’s hack costs nearly $80 million.
So, the hackers targets its hot wallets, making away with over 100 BTC, 9million XRP, and tens of millions of ERC-20 tokens.
Notwithstanding, the exchange announces a week later receiving $120 million in debt financing from FTX Trading.
Which is the FTX derivatives exchange parent company.
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