Yahoo Japan decides to buy minority stakes in BitARG exchange
The Japanese online auction giant, Yahoo Japan, said in a statement that it would buy 40% stakes in the cryptocurrency exchange, BitARG, which is based out of Tokyo.
The Yahoo Japan Corp said on Friday that it would buy the minority stakes in BitARG. Thereby, it would become the latest Japanese financial service provider to join the industry of cryptocurrency. It wouldn’t be a surprise if Yahoo Japan launched their own ICO in the near future.
However, there is not much information about the investment that Yahoo Japan would be making to acquire the shares. According to a few sources, it is said that Yahoo Japan would be shelling out an approximate $18 million to $27 million.
Recently, The Monex group, which is an online Japanese brokerage firm, made an announcement that it would buy Coincheck Inc. for $34 million. What’s interesting is that Monex took this decision despite knowing that Coincheck was recently hacked.
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