BitTrade, a Japanese government funded cryptocurrency exchange, has been acquired by an international investor 50 mln USD by a millionaire from Singapore.
Mr. Eric Cheng Purchased 100% of shares of the cryptocurrency exchange. This is one of the first domestic exchanges that received a license from a Japanese financial regulator. That is a sign that the cryptoexchange has high chances to move forward.
However, for Mr. Cheng that seemed not to be enough. He purchased as well an affiliate company of BitTrade, FX Trade Financial Co., a leading Forex trading platform in the country.
The management of the both companies is expected to work aggressively in the market, and to expand the services to exchanges and strengthen their presence not only in financial market in general, but in cryptocurrency market, as well.
Moreover, the platform is expected to increase safety and security measures. Japanese cryptocurrency exchanges are already have two serious issues in their history – the famous Mt.Gox and Coincheck hacks. And for sure, foreign investors don’t want to allow it again, this time, with the exchanges under their management