Yahoo! Japan Plans To Launch Crypto Exchange In 2019 After $19 Мln Buyout, Report Says

The Japanese arm of internet giant Yahoo! will open a cryptocurrency exchange “in April 2019 or later” local media Nikkei Asian Review reports today, March 23.

According to Nikkei Asian Review, Yahoo! Japan will buy 40% of BitARG Exchange Tokyo next month, and immediately dispatch executives to lay the foundations for the exchange to launch a year later.

“The purchase of BitARG shares will be made through Tokyo’s YJFX, a wholly owned Yahoo subsidiary that operates foreign exchange transaction services,” the publication reports, adding that the 40% stake will cost the company 2 bln yen ($19 mln).

The move by Yahoo! brings a further big name to Japan’s fledgling regulated cryptocurrency exchange arena.

A crypto exchange licensing scheme that began in April 2017 has now seen a total of 16 operators cleared to serve the Japanese market, these including major players such as SBI Group

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