World's Largest Fiat Crypto Platform Liquid.com Announces Completion of Group Restructuring
TOKYO, Oct. 8, 2019 /PRNewswire/ -- Global cryptocurrency platform Liquid.com ("Liquid") announced the completion of its global group restructuring to reflect the company's evolution into a global fintech business. As a result of the global restructuring, the existing "Quoine" operating entities have moved under Liquid Group Inc. to form the new Liquid Group.
Mike Kayamori, Co-Founder and Chief Executive Officer of Liquid, stated, "We are seeing extraordinary and disruptive trends in financial services, driven by fintech innovation where customers are more digital and tech savvy in accessing their financial needs, from owning cryptocurrency wallets and accounts to actively trading crypto assets on global platforms such as Liquid. On the other hand, traditional financial infrastructure and lean fintech startups are racing to keep up with these new technological advancements, accelerated by the adoption of blockchain technology and cryptocurrencies.
This has caused a proliferation of over 2,000 cryptocurrencies with fragmented markets and over 200 cryptocurrency exchanges operating in siloed liquidity pools. Our vision is to systematically build out best in class capabilities and nurture the right talent to solve liquidity issues in cryptocurrency markets and provide the best price transparency for a wide range of customers, all in one platform. As a regulated entity by the Japan Financial Services Agency, we have combined bank-grade technology solutions, institutionalized KYC/AML compliance, and a strong management team with deep domain expertise in financial services and technology from top tier investment banks to drive the best value for our customers at Liquid. With this group restructuring, we are now unifying all our internal capabilities and assets under a singular global brand, Liquid, that will flow through all our entities' identities."
Drawing from its 5-year leadership in the cryptocurrency space, the Liquid Group will continue to build on existing brand equity of liquidity maximization, customer-centricity, and security. The strengthening of the Liquid brand across all global offices in Tokyo, Singapore, Vietnam and the Philippines will allow the Liquid Group to strengthen its positioning and launch across global markets effectively as a truly global brand. As part of this global expansion plan, Liquid will plan to launch in the United States once all applicable licenses are obtained. As a pro-regulatory group, Liquid's Singapore entity will also be looking at licensing under the incoming Payment Services Act.