On Friday it became known that Yahoo Japan Corp will buy a minority stake (40%) in the Tokyo cryptocurrency Exchange Tokyo stock exchange Bitarg.
Yahoo! Japan Corporation is a joint venture between American Internet company Yahoo! and Japanese telecommunications Corporation Softbank. The purchase of shares will be made through a subsidiary of Z Corporation.
CMD Lab, the parent company Bitarg, who previously denied the possibility of selling shares of Yahoo! Japan will retain control over the remaining 60% of the shares. The sum of transaction is not called, but according to some sources, it may be 2-3 billion yen ($18 — $28 million).
Cryptocurrency exchange Bitarg appeared in may 2017, but in August stopped working. In December he obtained a license Agency for financial services of Japan (FSA) to trade in bitcoin and this autumn it is planned that the new exchange will begin full operation.
In addition to Yahoo Japan to acquire cryptocurrency exchange also wants to Monex Group the Japanese online broker. According to reports that appeared last week, the object of such a purchase should be recently hacked cryptocurrency exchange Coincheck. The transaction value could reach $ 34 million.