Japan Prepares For Six New Crypto-exchange Platforms.
Japan’s corporate world is by all accounts fancying the digital platform’s side of cryptocurrencies. In the latest news, Japan is planning to clasp six new crypto-exchanges in their arms. The listed public companies on the Tokyo Stock Exchange has established these crypto-platforms. Japan already owns 16 fully licensed crypto-exchanges and is adding eight more applications of exchanges which are currently under review by FSA, Japan’s Financial Service Agency.
The cryptocurrencies that they will be trading are Bitcoin (BTC), Ripple (XRP), Litecoin (LTC) and Ethereum (ETH). A year ago, in April, a law legitimizing digital currencies as a medium of payments went into effect. The nation needed to require and enlist all the cryptocurrency exchanges to FSA.
These sprouting public companies will be joining the previous companies, who had reported their plans to launch crypto-exchanges, such as Yahoo! Japan, Line Corp. and SBI Group. Japan’s future cryptocurrency exchange merchants are Drecom, Yamane Medical Corporation, Daiwa Securities Group, Avex, Adways, Drecom, and Money Forward. This will be the first time for these six companies to work in cryptocurrency exchange.
About these six companies:
- Money Forward Inc is an app that manages budgets. Its launch took place in 2012 and at present, it has 5 million customers. It is one of the most popular financial technology startups. They are largely known as the first developer of a household booking app, Kakeibo App.
- Drecom Co. Ltd works in the marketing and development of entertainment content for Mobile and Personal Computer.
- Yamane Medical Corporation is engaged in nursing and personal care. It deals in a home-center for the sick and elderly in Japan under the house name Nagoya.
- Adways Inc is a worldwide mobile App located in Tokyo. It is a marketing company dealing with ad networks and as agencies.
- Avex Inc, founded by Max Matsuura, is an entertainment amalgamation and a music label in Japan. Avex Inc has also spread out in a variety of fields like video games, anime, and live music events.
- Daiwa Securities Group is a security brokerage firm.
Stats show that 80 percent of the 3.5 million in Japan, are traders ranging between the age of 20 to 40. No wonder the interest of Japan in cryptocurrencies has been increasing day by day.