Forget about the bear market, crypto is hotter than ever before! According to the latest news, in Japan alone, two new cryptocurrency exchanges are opening for business this spring. 

New cryptocurrency exchanges are arising everywhere. This spring, in Japan, two new cryptocurrency exchanges are set to open for business. The cryptocurrency space is booming, that’s for sure!

In April, Japanese e-commerce giant Rakuten is going to launch a cryptocurrency exchange. The news is not surprising, since Rakuten bought local crypto exchange  “Everybody’s Bitcoin, Inc.” for 265 million yen or $2.4 million in August last year.

Everybody’s Bitcoin, nowadays rebranded to Rakuten Wallet, has been operating as a deemed cryptocurrency exchange since March 2017 and was waiting for the official registration approval by the Kanto Local Finance Bureau (KLFB). Apparently, with the help of Rakuten, this approval has now been given.

Yesterday, the Financial Services Agency (FSA), Japan’s financial regulator, announced that Rakuten Wallet has successfully completed the registration process and is now registered as a virtual currency exchange service provider.

Rakuten Wallet, however, is not the only new cryptocurrency exchange launching this spring. According to an announcement on its website, Taotao, owned partly by Yahoo! Japan, will be opening up for business soon. Those who qualify can pre-register and start opening accounts from March 25 through April 17; the initial trading period on the Taotao exchange will begin in mid-May and go until July 1, 2019.

With the announcements, it seems that Japan is moving towards a new cryptocurrency boom and is setting the country up towards achieving mass cryptocurrency adoption.


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