Japan’s financial tech industry seems to be on a boom. As a result, the country’s Financial Services Agency (FSA) recently announced the approval of another cryptocurrency exchange. The exchange would commence operating sometime this week, as announced on March 25 in an official press release by DeCurret. DeCurret would be collaborating with Rakuten Wallet. The official trading would begin from April 16.
Japan’s Rising Interest in Cryptocurrency
The FSA of Japan has been following strict policies and regulations against crypto-based businesses and technology. A total of 140 companies expressed their interest in a crypto exchange trading platform. The FSA received applications from 23 companies to begin the process. Out of a total of 23 requests received, the agency only accepted and approved two crypto exchanges. Rakuten Wallet Co. Ltd. and DeCurret Co. Ltd passed all the pre-requirements listed to be licensed as a crypto exchange platform. Their licenses to officially commence trading would be approved in April.
DeCurret in its official press release announced that the company’s mission is centered on a secure and safe user-friendly trading platform that would work towards achieving and fulfilling the need of its users. DeCurret also emphasized that the company aims to make crypto exchange and Bitcoin trading effortless for all.
History of Rakuten Wallet
Everybody’s Bitcoin now officially known as Rakuten Wallet Co. Ltd is a financial technology operator. The company has clients in over 30 countries with 1.3 billion registered users around the globe.
Rakuten Group has been dead set on getting their application approved for quite a while now. The company filed the application way back in September of 2017. Up until now, the firm has been functioning as a deemed currency exchange platform in offering services to their clients. Now, with Rakuten and DeCurret all set to receive their licenses, many more crypto trading platforms are expected to follow in their footsteps.