Japanese Exchange Debuts Bitcoin Corporate Bond
The Fisco Ltd of Tokyo based financial information has announced this week that it has issued first bitcoin denominated unsecured corporate bond. They was from three year bond worth 200 bit coins was issued to another firm in the group on 10 August as an experiment to test the bond’s potential.
These company are launched a bitcoin exchange in April 2016 it’s called Fisco Crypto currency Exchange which has bond’s issuer. This bond was pays 3% coupon and its gives back to the holder 200 bit coins when it's matures on August 10, 2022.
The corporate issued the bonds as per law in money such as yen and dollars are defined as corporate bond. The bit coins are not corporate bonds under the corporate law and it’s also not money under the company law of publication noted. They will not be securities stipulated by the Financial Instruments to be Exchange Acts.
"The Fisco Expects Demand for Crypto Bonds to Grow"
The Japanese government legalized crypto currencies of payment In July. These has purchases became exempt from the nation’s 8% as the sales tax. These investors of worldwide companies are looking for ways to make money out of bit coin.
They say it expects of digital currency market to growing. Now they are testing new possibilities of products and services based on them. They are expect that bitcoin will eventually be recognized as a financial product under Japanese financial laws.
