Cryptocurrency News From Japan: March 8-14 in Review
GMO Coin reported record volume, Tokai Tokyo Securities joined the Japan STO Association, and more headlined news from Japan this past week.
This week’s headlines from Japan included GMO Coin reporting record transaction volume from February, BitFlyer surpassing 2.5 million users, Tokai Tokyo Securities joining the Japan STO Association, and SBI FX seeking margin trading licensing.
Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.
GMO coins exchange posts record high numbers
GMO Coin exchange, a subsidiary of GMO Financial Holdings, reported that February yielded all-time high transaction numbers after the exchange added 4x margin trading to its platform.
GMO’s transactions from sales offices, exchange trading, and digital asset FX totalled approximately $7.5 billion in February 2020. The exchange also tallied more than 300,000 customers by January’s end.
BitFlyer hits record high customer count
Tokyo-based exchange BitFlyer said it has amassed more than 2.5 million customers across Japan, the U.S. and Europe. No other exchange is reportedly licensed in all three countries.
BitFlyer’s co-founder and CEO Yuzo Kano said:
“‘One team, one dream’ for all group employees to comply with compliance as the world's only virtual currency exchange approved as a virtual currency exchange company in the three regions of the United States and Europe and to provide customers with peace of mind. I will take on the challenge boldly. "
Japan’s STO movement gains a member
Tokai Tokyo Securities has jumped on board the Japan STO Association — a group positioning itself as a self-regulating organization (SRO in the security token offering (STO) sector.
The Japan STO Association now touts nine participating businesses, including SBI Securities, Daiwa Securities, Monex, Rakuten, and five others.
Tokai Tokyo Financial Holdings, the company that owns Tokai Tokyo Securities, has shown interest in the digital securities movement, buying into a digitized security token exchange called iSTOX.
SBI FX plans for margin trading
SBI Group’s daughter company, SBI FX, started its journey toward a margin trading launch on its exchange, seeking licensing as a broker-dealer.
Reporting suggested the exchange will offer 2x leverage, pending the mentioned regulatory approval. SBI did not specify a date expectation for the product’s launch, or the trading pairs involved.