Yuzo Kano, chief executive of major Japanese exchange bitFlyer is trying to build a global cryptocurrency powerhouse, one former financier at a time. The Goldman Sachs Group alumnus who made bitFlyer Japan’s largest bitcoin exchange has doubled his staff in the past six months in a bid for global expansion. His team, which is expected to reach 300 this year, includes a fixed income chief at Barclays Plc and a former Credit Suisse Group AG senior private banker, according to Bloomberg. Continue reading Japan’s BitFlyer Raids Banking Talent in Bid For Global Crypto Exchange
Japan’s two primary cryptocurrency industry groups are merging to form a new self-regulatory entity following the recent $530 million hack of Tokyo-based exchange Coincheck. The unnamed new entity is set to launch April 1, the Nikkei reports, a year to the day after Japan’s revised Payment Services Act – which recognizes bitcoin as a legal method of payment – kicked in. The self-regulatory body will see the unification of the Japan Blockchain Association and the Japan Cryptocurrency Business Association. The former is notably founded around bitFlyer, Japan’s largest cryptocurrency exchange. The new entity aims to quickly enforce self-imposed rules surrounding the protection of exchange users’ assets, system downtimes, insider trading and even advertising. Additionally, penalties for breaches will also be considered. All of which sums up to a transparent foray to foster confidence from the public and the conventional financial industry in the cryptocurrency space, particularly in the aftermath of a major hack.
LSK, the utility token underpinning the Lisk platform, has been listed on BitFlyer and Huobi.pro, a move that comes just a few weeks before its scheduled relaunch event later this month which will unveil an updated and improved Lisk platform and a new brand identity and website. LSK is the token that powers the Lisk network. The cryptocurrency currently stands as the 16th largest in the world by market capitalization at US$1.59 billion. LSK is trading at about US$13, down nearly 54% from January 01’s price of US$20. “Today’s announcement caps a very successful week for Lisk, following Wednesday’s debut of our LSK token on the BitFlyer exchange,” said Max Kordek, co-founder and CEO of Lisk. “The addition of LSK to the Huobi.pro exchange elevates the status of our platform as we approach our relaunch event on February 20, in Berlin, and strengthens our ambition to be the enablers of innovation, making blockchain technology more accessible to everyone.”