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Japan’s Tokai Tokyo Financial Holdings Invests In Crypto Exchange Huobi Japan

Tokai Tokyo Financial Holdings, Japan’s financial services firm will invest about 500 million yen (nearly $4.6 million) in Huobi Japan.

On Dec. 26 a press release was published by Tokai that the investment with Huobi Japan will lead Tokai to acquire shares in the exchange.

Tokai intends to use the partnership with Huobi to promote new businesses in the areas of:

  1. Crypto asset exchange

  2. Initial exchange offerings

  3. Local currency issuance

  4. Crypto management

  5. Storage services

Over the past year, Tokai Tokyo Financial Holdings reported revenue of 57.57 billion Japanese yen ($252.5 million) reported

The partnership will enable the firm to adopt blockchain as a part of its business development plan.

Huobi Japan’s Recent Update

In October, Huobi Japan raised 5 million yen ($4.6 million) from Finacial Products Group (FPG), a financial instruments business operator. Financial Products Group (FPG) and Huobi Japan will provide support for new financial assets and payment methods.

As of September 2017, Huobi Japan got approved by Japan’s Financial Services Agency. Japan as of now has 21 registered crypto exchanges.


Source: Cointelegraph | Tokai Tokyo


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