Published On: Fri, Apr 13th, 2018

Yahoo! Japan Enters the Crypto Field: Acquires Minority Stake in Tokyo Crypto Exchange

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Yahoo! Japan Corp announced on Friday its intentions to purchase a minority stake in BitARG Exchange Tokyo. The deal builds on the increasing mainstream acceptance of cryptocurrencies in the country on behalf of business in the face of some of the most prominent Japanese companies.
Getting Involved in the Crypto Field
As reported by Reuters, Yahoo! Japan Corp is set to buy a minority stake in a Tokyo-based, FSA-approved crypto exchange. The hope of Japan’s number #2 most popular and visited website is to completely dismiss concerns associated with security as well as to get involved in the cryptocurrency field. It’s safe to say that the move has its merit, as the company has had its fair share of security breaches in recent years.
Yahoo! is set to buy out a 40% stake off BitARG Exchange through one of its subsidiaries. The official launch of the services is scheduled to start sometime this autumn.
Even though official financial terms of the deal have yet to be disclosed, a person close to the matter said that the purchase amount is likely to be close to two or three billion yen, which is the rough equivalent of $18.6 to $27.9 million.

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