Crypto Exchange FTX acquires Bitvo, makes Alberta first Canadian location

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CALGARY, Alberta, June 17, 2022 (GLOBE NEWSWIRE) — Momentum in Alberta’s fintech sector continues to build as cryptocurrency exchange company FTX announced plans today to establish its first Canadian location in Calgary after the acquisition of Calgary-based Bitvo — a crypto asset trading platform offering Canadians a secure and easy way to buy, sell and trade crypto assets.

With headquarters in the Bahamas and operations in Australia, Dubai, Japan, Switzerland and other locations worldwide, FTX announced its plans to finalize the acquisition of Bitvo Inc. by the end of the third quarter 2022, subject to regulatory approval and customary closing conditions. FTX chose Alberta for investment because of its business-friendly environment, talent pipeline, and established finance, tech and innovation ecosystems.

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Following the completion of the acquisition, Bitvo is expected to be integrated into the FTX global team, serving the Canadian market in a variety of capacities.

“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.”

  • Sam Bankman-Fried, CEO of FTX

“Canada has shown a growing interest in digital asset trading, and we’re thrilled to help provide entry into one of the leading regulated crypto asset trading platforms in the world to the Canadian cryptocurrency community. We look forward to transforming Canadian’s access to the digital asset ecosystem as part of FTX.”

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  • Pamela Draper, CEO of Bitvo

“We want to position Alberta at the forefront of emerging technologies and industries in Canada. FTX launching in Calgary will help further grow our reputation and our opportunities in technology and innovation, specifically in blockchain technology. This is great news for further growth of our fintech sector and further diversification of our economy.”

  • Honourable Doug Schweitzer, Minister of Jobs, Economy and Innovation

Invest Alberta will work with FTX as the company establishes its presence in Alberta, which…

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