The main financial regulator of Japan has shared with news.Bitcoin.com some statistics related to cryptocurrency exchange records. Of the 23 new applications received by the regulator, two have been approved so far. In addition, there are more than 140 companies more interested in entering the market.
More than 140 interested companies, 2 approved so far
The Financial Services Agency of Japan FSA approved applications for two new exchanges of currencies this week. One from Rakuten Wallet Co. Ltd. and the other from Decurret Co. Ltd.
The FSA said exclusively to news.Bitcoin.com, “The number of entities that have expressed interest in entering the market as virtual currency operators in Japan. Including consultations or preliminary consultations on the registry is more than 140 since last March.
The regulator also shared that among the 23 entities of which FSA has received the questionnaire seven entities are in the process of the main evaluation as of this March. Of the seven, only Rakuten Wallet and Decurret have registered so far.
The FSA also told news.Bitcoin.com that “It took us about six months to complete the required procedure from the main valuation process to the registration as a brokerage agent for cryptographic assets.” With the latest additions, Japan now has 19 approved crypto exchanges.
Wallet Rakuten
Following the announcement of the FSA, Rakuten Inc. issued a press release on Tuesday confirming that its subsidiary, Rakuten Wallet Inc., has been registered as a virtual currency exchange service provider. Rakuten Group provides more than 70 internet and fintech services in 30 countries and regions, with almost 1.3 billion members worldwide, according to its website.
The announcement explains, the company changed its business name from Everybody’s Bitcoin Inc. to Rakuten Wallet Inc. on March 1, 2019, and will stop its current service at the end of March. Users can open new accounts for a new service from April.
Established on December 15, 2016, Everybody’s Bitcoin began its encryption exchange service on March 30, 2017. The company applied to register with the FSA on September 7 of the same year, but it was not approved until now. Rakuten said the regulator allowed the exchange to operate as a considered virtual currency exchange service provider while its application was being reviewed.
On April 25 of last year, Everybody’s Bitcoin received a commercial improvement order from the FSA and proceeded to restructure its management system. Rakuten Inc. announced the acquisition of the stock market in August last year. According to the information on the FSA website, the new Rakuten Wallet exchange will offer the exchange of BCH, BTC and ETH.
Decurret
Startup Decurret announced on Monday that it has completed registration as a crypto exchange service provider and is opening its doors to business. Established in January of last year, the Tokyo-based company aims to be the main digital currency bank. That is the standard for digital currency transactions with security and convenience, describes its website.
Based on your registration information on the FSA website, Decurret will support BCH, BTC, ETH, LTC and XRP. With the portfolio and the exchange applications for iOS and Android on the way.
The company wrote, “We have built a system that allows us to offer services that can exchange, send, receive and store digital currency.”
Also published on Medium.