Coinsquare, a Canadian Crypto Exchange to Enter Japanese Market
Coinsquare, the Canadian crypto exchange has announced its plans to enter the Japanese market. It is waiting for approval from Japan’s financial regulators. They have partnered up with DLTA 21 Blockchain Corp., a Canadian blockchain investment bank for this purpose and it will be launched under the DLTA brand.
According to the company’s statement
The new trading platform is to be launched under the Dlta21x brand name after receiving all required regulatory approvals in Japan.
Coinsquare was founded in 2014 and claims to be Canada’s safest crypto exchange. It deals in BTC, ETH, BCH, LTC, DOGE and DASH. DLTA 21 on the other hand, is a venture capital firm that focuses on blockchain startups.
According to the Coinsquare CEO Cole Diamond, Japan is a unique market and provides interesting opportunities. The two companies also hinted at expansion in other Asian markets as well through the following statement.
While customers in Japan will be the initial focus of the Dlta21x cryptocurrency exchange, based on applicable laws, regulations and restrictions, going forward Dlta21x plans to expand to other Asian markets as well.
Earlier this year, Coinsquare released a statement explaining its plans for expansion in the overseas market and an Initial Public Offering for the same to be made in September.
The Japanese crypto market is one of the most attractive markets in the world. It has 16 government approved crypto exchanges and a lot of ‘deemed dealers’ that have been allowed to operate crypto platforms while their applications are under review by the Financial Services Agency (FSA). However, the hacking disasters that have taken place, especially of Coincheck in January, the FSA has tightened its watch over the cryptocurrency market and its players. Matthew Hornor, Executive Chairman of DLTa21 expressed the company’s delight in partnering with Coinsquare.
In addition to fast-growing interest in Japan to develop world-class decentralized applications on the blockchain (dApps), Japan reportedly accounts for the majority of global Bitcoin trading. DLTa21 is committed to offering Japan’s 3.5 million plus cryptocurrency exchange traders truly world-class solutions and security.
There are other major companies such as Line Corp, the operator of Line planning to enter the Japanese crypto market. They are launching a crypto exchange named Bitbox, but are waiting for approval from Japan’s FSA.
Follow us on Telegram!