The top financial regulator of Japan has shared some stats on Cryptocurrency exchange registrations stating that they have received 23 applications of which two have been approved till now. In addition to this, there are more than 140 companies who are eager to enter the market. The Japanese Financial Services Agency (FSA) have even disclosed that it took them nearly six months to complete the required procedure from the main valuation process to the registration to the crypto-asset broker dealer. With the new crypto exchanges approvals, Japan now has a total of 19 approved crypto exchanges.
After the announcement of the FSA (Finacial Services Agency), the Rakuten Inc. Has issued a press release confirming that it is a completely owned subsidiary, the Rakuten Wallet Inc., is registered as a virtual currency exchange service provider. The Rakuten group provides over 70 internet and fintech services in 30 countries and regions having almost 1.3 billion members all over the world. The wallet was established on 15th of December 2016, and since then the Bitcoin began its crypto exchange service on 30th of March 2017 and the company has applied for registration on 7th of September on the same year but the approval remained pending till now. The new Rakuten Wallet will soon be offering the trading of various cryptocurrencies like BCH, BTC and ETH.
A start-up named Decurret has announced that it has already completed its registration as a crypto exchange service provider and is opening ways for its growth. It is established in January 2018, and it aims to be the digital currency main bank which is standard for the digital currency transactions along with security and convenience. As per the information of registration, Decurret will support Cryptocurrencies like BCH, BTC, ETH, XRP and LTC. Increase in the no of new cryptocurrency exchanges provides an alternate route for the people of Japan to spend and invest their hard earned money.