According to the Japanese publication Nikkei Asian Review, the Japanese Internet company plans to acquire a 40% stake in BitARG Exchange Tokyo next month, intending to open its own exchange using BitARG technology in about a year.
BitARG has been licensed by Japan's financial regulator, the Financial Services Agency (FSA), and is expected to receive additional investment from Yahoo Japan in 2019.
Yahoo Japan will acquire shares of BitARG through its subsidiary YJFX, a stock market transaction platform. The 40% stake will cost the firm about 2 billion yen ($19 million), the Nikkei company reports.
After the acquisition, the Yahoo team will begin developing a new exchange, as well as developing systems for corporate governance, customer management and security systems.
It is noted that the FSA license to carry out cryptocurrency exchange operations in Japan is a mandatory measure, given the problems faced by the Binance exchange.
According to https://www.coindesk.com
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