Crypto Money Exchange with Japanese Government Licenses sold 50 Million Dollars to an International Investor
The Japanese crypto money market BitTrade Singapore by a multi-millionaire and entrepreneur on the May 30th was acquired by the financial authority of Japan Financial Services Agency ( FSA ) with license Eric Cheng will get the name of the business man to take over the 100% feel of the stock market.
19 One of the crypto money exchange domestic BitTrade Co., ] According to Asia One, this investment makes Cheng the first foreign investor in Japan with a 100% stake in a trading platform licensed by FSA.
Cheng voiced the following statement:
"The crypto money industry grows incredibly. In this framework, the key point to capture and serve increasing demands is to have a well-organized and licensed institution. I will work closely with the authorities to develop this platform globally, along with the stock exchange, which has the Japanese FSA license. "
The management team of both platforms will be able to expand commercial services on the stock market, enhance cyber security measures, develop more international user-
As Cointelegraph Japan reported in a report last week, BitTrade has stated that "there is currently no policy to change the framework of basic work under new procurement" and that services will continue.
Two high-profile Japanese cryptographic exchange stock scandals - $ 532 million Coincheck hacking and Tokyo-based Mt.Gox hit in January - a very tight cryptography editing environment to practice. For FSA licenses owned by BitTrade, there are very stringent requirements and actions to be taken, along with the FSA's new requirements at the beginning of this month.
Despite all these rigorous audits, the country still continues to show improvement in cryptographic money and blockchain.