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   877

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.

Coinsquare to Acquire StellarX

StellarX team belives Coinsquare is a great fit and it will help to develop the exchange
15 February 2019   117

Coinsquare, the largest Canadian bitcoin exchange, has acquired the decentralized StellarX exchange. The deal became a natural continuation of the BlockEQ XLM purse purchase in December 2018.

The StellarX Exchange is built on the Stellar protocol and offers users peer-to-peer trading in a number of cryptocurrencies and even some fiat pairs.

Note that the site does not provide custodial services and does not have access to the means of users.

Coinsquare intends to request a license for StellarX from the regulators of Bermuda. The position of CEO of the platform will be taken by the head of BlockEQ, Megha Bambra.

From here, StellarX will continue along the roadmap we announced last Fall, led by a dedicated team at Coinsquare of developers and designers who will make StellarX into the product we know it can be. StellarX will continue to operate and grow under its own brand. [...] To fulfill its potential, StellarX needs a home with regulatory experience and with a full-scope plan to build around the app. Coinsquare is the perfect fit.

StellarX Team

At the beginning of last year, the Canadian stock exchange raised $ 30 million from Canaccord Genuity. In 2018, she entered the European market, and also planned expansion to Japan.