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Yahoo Japan to Promote Cryptocurrency

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Yahoo Japan Corporation, a tech giant and subsidiary of Softbank Group and Yahoo is joining the industry of cryptocurrency by promoting an exchange in April 2019.

To launch a cryptocurrency exchange, Yahoo Japan will start by obtaining 40% of the BitARG Exchange Tokyo, which is an FSA-certified exchange running in the country. The FSA (Financial Services Agency) was already informed regarding the investment strategy. Yahoo’s acquisition will result in a huge realignment in the cryptocurrency exchange industry in the country.

BitARG Exchange Tokyo is known to be one of the sixteen cryptocurrency exchanges in the country along with FSA license, delivered in early December last year. There are currently sixteen other operators with pending licenses.

A complete year after the attainment of Bit ARG exchange Tokyo the following month, April 2019, Yahoo Japan prefers to promote its own cryptocurrency exchange, newly developed on the system of BitARG. Yahoo Japan will acquire the shares of BitARG, following to 40% of capital through YJFX of Tokyo – a retail foreign exchange broker established in 2003 and wholly acquired by Yahoo Japan Corporation.

The financial services company will compensate at least 2 billion yen or $19 million for the 40% stake in Bit ARG, made up of remaining shares and recently issued stock. Starting in April, executives, developers, and engineers from YJFX will be forwarded to BitARG wherein they’ll spend the rest of the year collaborating with engineers from BitARG to construct a new exchange network. The two groups will also collaborate to work on corporate governance structure, internal controls, and a customer management network. The added investments will be made from January to March next year by another Yahoo group corporation.

The membership of BitARG by the FSA is extremely vital as it allows it to run in Japan, something, which one of the gigantic cryptocurrency exchanges in the globe. Binance, has previously found itself fighting to do. They previously confirmed having acquired a letter from the watchdog that demanded that the exchange stops its operations in the profitable Japanese market if it did not safeguard registration along with the regulator.

The FSA has been performing a huge crackdown on the majority of exchanges after the hacking of the Coinheck – a huge Japanese exchange, which reveals the exchange lose $500 million and uncovered deeper security problems influencing many crypto exchanges.

Most market analysts have expected that the number of cryptocurrency exchanges will reduce significantly in the coming years as people choose the exchanges, which they’ll stick to. The exchanges, which last for the long haul will notice massively increased trading volumes.

Major firms have continued to show interests in this field. This was observed when payment provider Circle obtained major cryptocurrency exchange Poloniex. The purchase that cost the Boston-headquartered firm $400 million, provided it a huge position in the cryptocurrency exchange field that is growing at an amazing rate. Yahoo Japan is planning to enter into this industry and the purchase of BitARG is surely an excellent way to begin.


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dan saada

Dan hold a master of finance from the ISEG (France) , Dan is also a Fan of cryptocurrencies and mining. Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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