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Homepage / News November 18, 2017 138 views

Japanese Publicly Listed Organizations Launch Cryptocurrency Exchanges in South Korea

Japanese Publicly Listed Organizations Launch Cryptocurrency Exchanges in South Korea

Two Japanese Companies Launch Cryptocurrency Exchanges in South Korea

News

Two Japanese businesses listed on the Tokyo Stock Exchange have not too long ago expanded their cryptocurrency operations into South Korea. A single has partnered with a regional business to launch a bitcoin exchange with a plan to add merchant services. The other held an ICO to create a crypto exchange right after launching a mobile game which allows customers to earn bitcoin.

Also study:&nbspBitcoin-Primarily based Ethereum Rival RSK Set to Launch Next Month

Bitpoint Korea

Remixpoint Inc (3825.T), which operates the bitcoin exchange Bitpoint&nbspin Japan, lately launched a cryptocurrency exchange in South Korea called Bitpoint Korea.

Two Japanese Companies Launch Cryptocurrency Exchanges in South Korea
Representatives of Bitpoint and Sys &amp Tech.

To launch this exchange, the company partnered with a Korean organization referred to as Sys &amp Tech which develops Forex margin automated trading systems. “In this company tie-up, we supply virtual currencies and liquidity to the virtual currency trading system, while Sys &amp Tech will be responsible for [its] operations including marketing and advertising and consumer correspondence. We will revitalize the Korean virtual currency market,” Remixpoint claimed.

Cryptocurrency solutions offered by way of the partnership include an exchange, spot transaction services, and cash transmission services. The exchange currently supports BTC, BCH, and ETH. For additional expansion into the Korean market, the firm plans to supply merchant payment options to retail retailers in the close to future.

Two Japanese Companies Launch Cryptocurrency Exchanges in South Korea
Bitpoint Korea’s trading screenshot.

Metapsplus’ Coinroom

Headquartered in Tokyo, Metaps Inc (6172.T) is an app monetization platform which utilizes artificial intelligence and large information to maximize app revenue and optimize campaign efficiency.&nbspIts Korean subsidiary, Metapsplus Inc, develops mobile advertisement platforms.

The subsidiary raised approximately 1.1 billion yen in a token sale last month to create and operate a cryptocurrency exchange named Coinroom, which it recently beta-launched. Coinroom currently lists BTC, BCH, ETH, Etc and the company’s own token referred to as pluscoin (PLC).

Two Japanese Companies Launch Cryptocurrency Exchanges in South Korea
Coinroom’s trading screenshot.

Prior to launching Coinroom, Metapsplus launched a mobile game called Dig Land&nbspwhich it says players can earn bitcoin from. The game is available in 141 countries, the firm detailed. Characters in the game dig minerals buried in the ground utilizing different gear and receive rewards in-game. The firm says that there are many techniques to earn bitcoin within the game which includes digging minerals and solving puzzles.

Competitors and Regulatory Environment

The Korean won is at the moment the third most traded currency for bitcoin by volume, behind only the Japanese yen and US dollar. Bithumb is the country’s biggest bitcoin exchange with about 70% of domestic bitcoin market place share, followed by Coinone and Korbit. Last month, a platform with over 110 cryptocurrencies beta-launched. This platform, Upbit, is operated by Kakao Stock, a stock trading platform primarily based on the country’s most common chat app Kakao Talk.

While each Japan and South Korea are amongst top countries for cryptocurrency trading, they have very various regulatory environments. Japan has produced bitcoin a legal strategy of payment, whereas South Korea is nonetheless operating on its regulatory framework for cryptocurrencies. In addition, Japan does not have particular laws governing initial coin offerings (ICOs), while Korea has&nbspbanned them.

Do you think far more Japanese firms will expand into South Korea? Do you think they can gain some industry share?&nbspLet us know in the comments section under.


Photos courtesy of Shutterstock, Bitpoint, and Metaps.


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Published at Sat, 18 Nov 2017 19:05:59 +0000

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