Home News Yahoo Japan to Buy 40% stake in bitARG Exchange Tokyo via Subsidiary

Yahoo Japan to Buy 40% stake in bitARG Exchange Tokyo via Subsidiary

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  • bitARG Exchange Tokyo as FSA-Registered Crypto Exchange
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Yahoo Japan(YJ), a listed Japanese web-portal site operator, announced that its  wholly-owned subsidiary Z Corporation would acquire a 40% stake in FSA-Registered Tokyo-based Crypto Exchange operator bitARG Exchange Tokyo by the end of this month for an undisclosed amount.
YJ would partner with bitARG Exchange Tokyo to tap into the cryptocurrency and the blockchain business via YJ’s newly established subsidiary Z Corporation.
YJ Group would also provide various supports, including security know-how, to manage bitARG Exchange Tokyo’s core cryptocurrency Exchange business.
bitARG Exchange Tokyo, which has a working capital of about JPY 10m(USD 93,200), plans its service launch around late this year.
Meanwhile, Monex Group(Monex) , a listed Japanese online brokerage firm, announced in early this month that the JPY 160bn(USD 1.5bn) market cap company would acquire 100% stakes in non-FSA-Registered Coincheck, a Tokyo-based hacked cryptocurrency Exchange, for JPY 3.6bn, according to a separate news release.
YJ has a market cap of about JPY 2.5trn.