The Japanese cryptocurrency trading platform Liquid announced a new partnership with Virtual Currency Partners (VCP) in order to expand into the United States. The information was released by the company in an official statement a few days ago.
Liquid Exchange Plans To Enter the U.S. Market
As per the report, Liquid and Liquid Financial USA Inc. will be working in order for the crypto trading service to expand to the United States and its market. Liquid plants to be offering services to American users through their holding company called Liquid Group Inc.
Liquid Financial USA has also acquired a money service business registered with the FinCEN in order to ensure that it can operate in the United States and offer its native token qash to U.S. residents. The United States has strict controls in the activities that virtual currency and blockchain companies perform on its territory and with its citizens.
The announcement says that Virtual Currency Partners is a consortium of investors and entrepreneurs that invest in the cryptocurrency market. The company is headed by Barry Schiffman, who previously served as an executive of JACFO Ventures. The experience that Mr. Schiffman has in Japanese and U.S. investments at JAFCO was a very important asset for Liquid’s US expansion.
The main intention is to be operating as soon as in January 2020. Liquid’s parent company is the cryptocurrency exchange Quoine, regulated by the Financial Services Agency of the country.
Japan has a very active cryptocurrency community as the United States. The Asian country has established hard and clear regulations in order for companies to operate in the market to have a regulatory framework. Regulatory agencies want investors to be protected against scammers and other fraudulent activities in the space.