Z corporation is a subsidiary of Yahoo! Japan Corporation – the Japanese annex of Altaba (formerly Yahoo) . The company has recently confirmed that it is about to become a minority shareholder in the BitArg Cryptocurrency Exchange.
The subsidiary is expected to acquire 40% of the Tokyo-based platform , launching into the cryptocurrency industry. ARG confirmed this acquisition. According to Reuters , “a source familiar with the subject mentioned that the sum exchanged should be between 2 and 3 billion yen” (about 15-22 million euros ). Both companies should therefore work together to improve the security, usability and reputation of the platform.
“Thanks to this new capital, the company will be able to use Yahoo Japan Group’s expertise in service and security operations, which will make it easier for customers to prepare for the start of the exchange management. ‘business, and improve the operation after the start of the operation. ” Excerpt from ARG announcement
This purchase comes one week after Coincheck’s by Monex , which sounded the arrival of another major financial entity – as a reminder, Monex is the third largest Japanese broker – in the world of cryptocurrencies.