Yahoo Japan to launch its own crypto exchange

The report by Nikkei Asia Review indicates that Yahoo Japan plans to aquire BitARG cryptocurrency exchange in 2018 followed by development of their own platform
23 March 2018   507

Nowadays practically every big company tries to dabble into the lucrative market of cryptocurrencies in one way or another. And now the reports indicate that Japanese branch of Yahoo plans to open their own cryptocurrency exchange somewhere during this year.

Their plans revolve around acquisition of 40% of BitARG Exchange Tokyo in the next month. The platform will continue its operations until the development of a new exchange based on BitARG technology will be completed.

The purchase of such a sizable share will be conducted through the Yahoo Japan's subsidiary YJFX, a forex transaction platform. Nikkei Asia Review puts the sum of the deal at respectable 2 billion yen or $19 million. After the purchase, the YJFX team will lead the development of the new exchange, also setting up the system for corporate governance and increasing customer security. For the increased security and account management capabilities we have to thank Financial Services Agency who now demands a complete security overhaul on cryptocurrency exchanges after Coincheck hack in January.

The existing platform of BitARG has already passed all the necessary checks with Japanese Financial Services Agency and will continue to operate as it is for now, also recieving further investments from Yahoo Japan in early 2019, as reported by Nikkey.

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   153

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.