Follow Us

Header Ad

Latest Posts


Report: Top Brokers in Japan Increase Income Through Their Own Bitcoin Exchanges

Japan’s top three online brokers SBI, Rakuten and Monex are competing with their own cryptocurrency exchanges for digital asset market share. This is stated in a new report by Messari.

According to researchers, operating revenue and net assets exchange platforms operated by Japan’s leading brokers are rapidly catching up with their cryptocurrency competitors.

Data: Messari, August 2020.

Financial conglomerate SBI Holdings operates the SBI Virtual Currencies exchange. Retail giant Rakuten owns the Rakuten Wallet platform. Online broker Monex Group acquired the major exchange Coincheck in April 2018.

Many asset management companies are in talks with Japanese lawmakers to obtain permits to launch advanced cryptocurrency-based services and products, said Messari researcher Mira Kristanto.

“Large funds are lobbying the government for permission to store crypto assets and launch ETFs. If they get the green light, the banks are left out. ” wrote she.

Messari praised the activities of the Japan Financial Services Agency (FSA) to develop the cryptocurrency industry. Experts counted 26 licenses issued by the regulator to digital currency exchangers since April 2017.

The largest Japanese exchange is bitFlyer with over $ 1 billion in custody and $ 146 million in net assets as of August 2020. The Liquid exchange entered the top ten cryptocurrency unicorns at the end of 2019.

ForkLog previously reported that, according to Messari, Asia accounts for 43% of the world’s cryptocurrency transactions, 70% of the bitcoin hashrate and six out of ten “unicorns”.

Subscribe to ForkLog news on Telegram: ForkLog Feed – the entire news feed, ForkLog – the most important news and polls.

Found a mistake in the text? Select it and press CTRL + ENTER

Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

    Leave Your Comment

    Your email address will not be published.*

    Forgot Password