Money Partners Group, one of the Japan’s leading forex brokerage firms, has taken its first steps into the Bitcoin industry following an investment into Kraken.
The Tokyo-based company, which reportedly holds a market cap of over $USD260 million, confirmed its plans to further its business portfolio in digital currency sector, starting by offering Bitcoin trading and settlement services to its clients. It meanwhile also confirmed having plans to add blockchain-based derivative trading services to its portfolio.
“Cryptocurrency and blockchain technology will bring about a future in which digital and digitized assets are commonplace,” said Taizen Okuyama, the President and Representative Director of Money Partners Group, adding how the company wants to bring cutting-edge finance technologies to its clientele. He added:
“They [Kraken] are the ideal partner for diving into this new [Bitcoin] ecosystem. We’re excited about what advantages this partnership with Kraken will bring to Money Partners Group and our global clients.”
Launched in 2011, Kraken has enjoyed the tag of being one of the highly emerging and trustable Bitcoin exchanges around the globe. The digital currency startup, which lately acquired two of the most prominent Bitcoin exchanges — CAVIRTEX and Coinsetter — in Canada, is already backed by a multitude of investors including SBI Investment, Blockchain Capital, and many others. It has since reported a fourfold-growth in its trading volume from US and Europe.
Kraken CEO Jesse Powell, while embracing Monet Partner Group as their new partner, expressed how the investment could be a great sign for Bitcoin — and Ethereum, another popular cryptocurrency Kraken had added to its trading platform last year. Excerpt from the press statement:
“Our new relationship with Money Partners Group is a huge win for Bitcoin and Ethereum awareness and adoption around the world. The results we will achieve together will show other financial institutions why they should embrace digital assets and blockchain technologies.”
The investment meanwhile comes almost a month after Japan’s announcement to kickstart fintech revolution by easing regulations. The move undoubtedly has freed bank and finance organizations to form tie-ups with fintech companies, including an emerging blockchain and Bitcoin space.
Before Money Partners Group, Mitsubishi UFJ Financial Group and Mizuho Financial Group have already announced investments into the blockchain-based startups in Japan.
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