While the United State Department of Justice (D.O.J) investigates the allegations for Bitcoin manipulation in the crypto market, Japan is ready to welcome six more crypto exchanges launched by listed on the Tokyo Stock Exchange public companies. These new exchanges join a budding list of plans by other companies to issue their own crypto exchanges in Japan. For instance, the discussion is around SBI Holding’s Virtual Currencies exchange that is planning to be launched this summer, according to ethereumworldnews.com. Also, Line Corp and Yahoo Japan are planning to launch their own exchanges in the country.
The six companies are Money Forward, Drecom, Yamane Medical Corporation, Adways, Avex and Daiwa Securities Group.
The launching is natural for the companies, as Japan is one pf the major crypto trading and owning countries in the world. The exact figures want Japanese trading and owning crypto to 3.5 million. The vast majority of the traders are between 20 and 40 years old. This demographic makes up 80% of the 3.5 million.
According to the same survey, the trade volume of Bitcoin in Japan increased from $22 million in March 2014 to $97 Billion in March 2017, noticing a 440,800% increase in overall trading and interest in crypto in the country during 3 a three-year period.
These numbers made almost 100 companies apply for crypto trading licenses in Japan through the FSA (Financial Services Agency).
The possible launching of six new crypto exchanges in Japan is a sign that the crypto-verse is that the crypto market is so probable to expand in the next few months despite the current market decline that is faced.