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To Market Arms Race, Japanese Crypto Exchanges Tap Star Power

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Along with original music, tapping into star power and launching TV commercials seems to be the kind of move which a number of exchanges including Bitflyer, DMM Bitcoin, Tech Bureau’s Zaif and the hacked exchange Coincheck have been making.

The business of Japanese cryptocurrency exchanges has been actively advertised. To promote their services, Tech Bureau’s Zaif exchange joined the group of Bitflyer, DMM Bitcoin, Bitrade, and Coincheck in tapping into Japan’s star power.

A commercial researcher operated by Tokyo Kikaku Co by the name CM Soken Consulting, Japan Times stated that “In the past year, the presence of TV commercials by cryptocurrency exchanges has significantly increased. In the Kanto region, ads by Coincheck and Bitflyer were aired 819 times between Dec. 20 to Jan. 19. This was a stark difference in the number compared to major firms such as Toyota Motor Corp, NTT Docomo Inc, and Mcdonald’s Japan.”

In Shibuya, one of the busiest and most famous shopping districts in Tokyo, Japan Times also reported that “A Japanese celebrity coated in gold is prominently displayed on a huge billboard.” A 20-year old British tourist reported that “I would see ads all over Facebook during my time in London, but never on TV or in the streets like this.”

A senior researcher specializing in financial technologies for the Mizuho Research Institute named Kenji Harashima was quoted saying, “The most active cryptocurrency exchanges in the world are that of Japan since you can also leverage to make investments, adding to the fact that there are tight regulations in China and South Korea.” Bitflyer, Coincheck and DMM Bitcoin have used advertising platforms like Youtube, Facebook, and Instagram along with airing commercials on TV.” the publication added.

To be its face, Bitrade hired Japanese actress Ruriko Kojima. Popular local comedian Tetsuro Degawa was hired by Coincheck. However, due to the hack that cost the exchange 58 billion yen worth of NEM, Coincheck’s ads were removed.

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