FTX to acquire Canadian crypto trading platform Bitvo

FTX is set to acquire Canadian crypto trading platform Bitvo.

Bitvo will become the cryptocurrency exchange’s latest addition to its chest of acquisitions.

FTX said that the deal will close in the third quarter of this year should it receive regulatory approval.

Bitvo is a Canada-based platform that enables users to trade digital assets, including BTC and ETH among others, while also offering a cash card.

The CEO of FTX Sam Bankman-Fried had promised to spend billions on acquisitions in forthcoming years to build the company’s global presence.