On the latest news we have an important information coming from Tokyo. This time, Yahoo Japan would like to start operating a cryptocurrency exchange. During the next month, the company will acquire 40% of BitARG Exchange Tokyo. The new cryptocurrency exchange will be newly built on top of BitARG system.
Yahoo’s Cryptocurrency Exchange
Since cryptocurrencies started to call the attention of many individuals and enterprises all over the world, new investments started to take place. Most of the important technological – or not – enterprises started to invest in different crypto related project as well as in Blockchain technology.
This time is Yahoo, that is announcing a new cryptocurrency exchange that will be based in Japan. The company has announced that it will purchase BitARG shares through Tokyo’s YJFX, a Yahoo owned subsidiary that operates foreign exchange transaction services.
The transaction will be valued at $2 billion yen (around 19 million dollars), for the 40% of BitARG. The stack that is going to be purchased will be conformed of outstanding shares and newly issued stock. But the investment plan does not end there.
Yahoo will keep investing from January to March 2019. The main difference is that this time, the investment will be made through another Yahoo group company, trying to decentralize the procedure. Since April, BitARG will experience some changes. For example, YJFX executives and engineers will be dispatched to BitARG. The main intention is to start developing the new systems of the cryptocurrency exchange.
According to a report, they will also be working on a corporate governance structure, a customer management system and internal controls. Other important enterprises like Microsoft and Samsung are investing in cryptocurrencies.
Microsoft is backing one of the most interesting and awaited projects in the cryptocurrency community, the so called Lightning Network (LN).
Samsung is taking different steps by integrating Blockchain technology to its business model. Google has also explained that it has teams that are working with Blockchain technology in order to improve some products and services. Until now, it has not specified which are their plans or products that could be enhanced.