Quoine

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Quoine
Quoine.png
Founded 2014
Headquarters Tokyo, Japan
Key People Mike Kayamori, Co-Founder, Chief Executive Officer; Mario Gomez Lozada, Co-Founder, President and Chief Product Officer; Katsuya Konno, Head of CEO Office; Masaaki Tanaka, Board Director, Advisor (Financial Services Agency of Japan)
Products Cryptocurrency trading, fintech, blockchain technology
Twitter @Liquid_Global
LinkedIn Profile
Facebook LiquidGlobal
Website Liquid Homepage
Blog Liquid Blog

Quoine is the parent company of Liquid, a licensed Japanese cryptocurrency trading platform.

Background

Quoine was founded in 2014 by Mike Kayamori and Mario Gomez Lozada. The same year, the company launched Quoinex, a digital platform for fiat-to-crypto trading. In 2015, the company added margin trading to Quoinex and developed a mobile app for the platform. Quoine opened its headquarters in Tokyo, Japan in 2015. Later that year, the company secured $20 million in VC funding. In 2017, Quoine launched Qryptos, an exchange that supported crypto-to-crypto trading, as well as Quoine's first ICO, with which they raised over $100 million. Later that year, the company was granted an official license from the Financial Services Agency of Japan, making Quoinex and Qryptos the first exchanges to be granted such a license. In 2018, Quoinex and Qryptos were merged to create the Liquid exchange.[1]

Litigation

London-based B2C2, an institution-focused cryptocurrency trading platform sued Quoine in 2017 in the first cryptocurrency dispute ever decided by a Singapore court, over transaction reversals made on Quoinex that April. B2C2 said that the reversals led to proceeds being deducted without authorization, resulting in a loss of 3,085 bitcoins. The Singapore International Commercial Court (SICC) ruled on March 14, 2019 that Quoine was in breach of contract with B2C2 and ordered the Japanese company to pay B2C2 for damages.[2]

Quoine appealed the decision to the Court of Appeal, the highest Singapore court, which decided in B2C2's favor. The only remaining issue was the size of the amount of damages to be paid by Quoine.[3]

Key People

  • Mike Kayamori - Co-Founder, Chief Executive Officer
  • Mario Gomez Lozada - Co-Founder, President and Chief Product Officer
  • Katsuya Konno - Head of CEO Office
  • Masaaki Tanaka - Board Director, Advisor (Financial Services Agency of Japan)

References