Yahoo Japan Intends Buying Minority Stake In Crypto Exchange

Yahoo Japan Intends Buying Minority Stake In Crypto Exchange

Exchange
April 13, 2018 by Bitzamp
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Yahoo Japan Intends Buying Minority Stake In Crypto Exchange Yahoo intends to buy a minority stake in a cryptocurrency exchange with the hope of entering the market later this year. On Friday, the tech giant said in a statement that a 40% stake in BitArg Exchange would be paid through subsidiary of Yahoo Japan. Yahoo
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Yahoo Japan Intends Buying Minority Stake In Crypto Exchange
Yahoo intends to buy a minority stake in a cryptocurrency exchange with the hope of entering the market later this year.
On Friday, the tech giant said in a statement that a 40% stake in BitArg Exchange would be paid through subsidiary of Yahoo Japan.

Yahoo Japan did not give details of the value of the investment. But a person familiar with the matter said it would likely total 2 billion to 3 billion yen ($18.6 million to $27.9 million.
The agreement comes after Japanese online brokerage firm Monex Group Inc announced last week that it would buy hacked cryptocurrency exchange Coincheck Inc for $34 million.

In a statement on BitArg’s Tokyo trading website, the company said that the minority stake agreement has been accepted to allow the exchange to capitalize on the “operation and security experience of the Yahoo Japan Group service.”
Shares in Yahoo Japan closed down 0.2 percent, against a 0.6 gain for the benchmark Nikkei average.


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