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Six Japan Based Companies Is All Set to Launch Own Cryptocurrency Exchanges

Six publicly listed companies in Japan have staged a decision to launch cryptocurrency exchanges on their own. Other three Tokyo Exchange listed firms are also planning to establish cryptocurrency exchanges in Japan.

Six Companies that Plans to Unveil Crypto in Japan

The six firms that have decided to establish Cryptocurrency exchanges in Japan are Drecom Co. Ltd, Adways Inc, Money Forward Inc, Daiwa Securities Group, Avex Inc, and Yamane Medical Corporation.

Japan has effortlessly embraced the cryptocurrency. Corporates, traders, and regulators are relentlessly working on this digital currency. The cryptocurrency has a bright future in the nation.

According to the release by the Financial Services Agency in Japan in June 2018, the nation has seventeen cryptocurrency exchanges as on March 31, 2018. The country has 3.5 million active traders of the cryptocurrencies. The investors are in the age group of 30 (34%), 20 (28%) and 40s (22%).

The Japanese exchanges have joined hands in June 2018 to form a self-regulated body to regulate the crypto industry. It is called Japanese Cryptocurrency Exchange Association (JCEA).

Hundred More Companies Shows Interest for Crypto space

The fully licensed cryptocurrency exchanges in Japan are numbered at 16. The FSA is reviewing the applications of other eight exchanges. According to the information available, more than 100 firms including Yahoo Japan Corporation and Line Corp are showing interest in entering the crypto.

The latest entrants to add the crypto to their portfolio are I-Freek Mobile Inc., Appbank Inc., and Samurai & J Partners. However, these firms have no plans to establish cryptocurrency exchanges in Japan.

I-Freek Mobile Inc will integrate the cryptocurrency into its offerings. The company is engaged in offering mobile content to the users of cell phones. It has added virtual currency exchange business by modifying the articles of incorporation.

Samurai & J Partners help the individuals that intend to manage the assets through its subsidiary. Its Samurai platform has listed crypto related funds known as Virtual Currency Mining Fund. It has also staged a decision to launch the money lending business targeting the virtual currency holders.

Appbank Inc. has announced plans to introduce @Blast, a Virtual Currency Distribution Content Platform.

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