RATE Group | Another Japanese Finance Industry Player Joins the Cryptocurrency Fray
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Another Japanese Finance Industry Player Joins the Cryptocurrency Fray

29 Jan Another Japanese Finance Industry Player Joins the Cryptocurrency Fray

Posted at 10:56h in Cryptocurrency News by

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Another Japanese Finance Industry Player Joins the Cryptocurrency Fray 101
Source: iStock/coffeekai

It seems that another big, non-crypto company just stepped onto Japan’s crypto scene.

Daiko Holdings has become the latest Japanese firm to operate a cryptocurrency platform. SNC, operator of the Bitgate cryptocurrency exchange has transferred a controlling stake of 58.1% of its 100% stake in the company to Daiko Holdings.

Per an official Bitgate announcement, SNC will retain a minority 41.9% stake in the exchange.

Bitgate has also become an official subsidiary of the Daiko Holdings Group, which operates a wide range of financial and brokerage services, as well as marketing, hardware and rental car businesses.

The move is more significant when viewed against the backdrop of the past few years. Some of the country’s biggest conventional finance and brokerage services providers are now building cryptocurrency arms. In some cases, such as the SBI Group, they are creating their own platforms from scratch.

But, as is the case with the likes of the Monex…

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