Yahoo Japan to buy minority stake in cryptocurrency exchange

Yahoo Japan Corp said on friday it would buy a minority stake in cryptocurrency exchange BitARG Exchange Tokyo.

Yahoo Japan which is also the country‘s biggest online auction site, said in a statement it would buy through subsidiary 40% stake in BitARG Exchange Tokyo, which services planned for launch in the autumn.

Yahoo Japan did not give details of the value of the investment. But the person familiar with the matter said it would likely total 2 billion to 3 billion Yen( $18.6 million to $27.9 millions).

Institutional players are now pouring in , which is certainly great in the long run.

Source- CNBC Crypto.