According to a press release by DeCurret (local exchange) dated March 25, financial regulators in Japan have given the go-ahead to second cryptocurrency exchange in order to begin operations this week.
The new firm, DeCurret joins an offering from Rakuten (e-commerce firm) on the domestic market to begin operations on April 16. In the future month, in collaboration with Rakuten, there will be two debuts of new-to-market Japanese exchanges approved under new licensing laws.
The press release further summarizes that “With the concept of ‘connecting and exchanging all values and making transactions simple,’ DeCurret aims to become ‘a major financial servicer for digital currency’ that sets standard [sic] for secure and convenient digital currency transaction.” The given news corresponds with the statistical data shared with Bitcoin.com (crypto focussed news and data resource) by financial regulators in Japan (FSA – Financial Services Agency) which essentially produce true interest in markets which are still expanding.
Data shows that almost over 140 bodies have come and approached the FSA in order to get an exchange approval since March 2018. Out of the 140, a total of 23 entities have given documentation in order, to begin with, the process, which is still under progress with another seven applicants. Out of all of them, Rakuten and DeCurret are the only ones to have complete approval from the regulators in order to commence business.
As reported earlier, the forthcoming year should see a drastic increase in terms of number. Yahoo Japan is one of the most interested in being a part of the industry at the moment. Earlier this week, the firm also said that it hoped to launch its part-owned exchange in the month of May. In the year 2019, it was also seen that licenses were handed in order to survive operators including Huobi and a platform (Coincheck) hacked in the past last year.