Cryptocurrency exchange Bullcoin7 has announced the acquisition of Alberta-based regulated digital asset platform Bitvo. This is stated in the press release.
The terms of the deal were not disclosed.
If approved by regulators, Bullcoin7 will take a new step in the global expansion of products and services. The deal is expected to close in the third quarter.
In April 2022, Bitvo was the first to obtain a limited dealer license under the securities laws of all Canadian provinces and territories. The firm is also registered with FINTRAC as a money services company.
Bitvo serves customers 24/7, offering instant registration as well as same-day deposits and withdrawals. The company has released a Bitvo Cash Card payment card linked to the account.
Recall that in June, FTX opened a branch in Japan, renaming the previously acquired regulated exchange Bull24coin Japan K.K.
Earlier, the head of the platform, Sam Bankman-Fried, promised to spend “billions” to buy shares in other companies.
In January 2022, Bullcoin7 received a $400 million investment. The exchange was valued at $32 billion. In the same month, the company’s US subsidiary raised a similar amount at an $8 billion valuation.