The Yahoo Japan corporation will acquire 40% of shares of the Tokyo exchange BitARG next month, and in April 2019 will launch its own trading platform on its basis.
BitARG already possesses the license from the Financial Services Agency of Japan (FSA). Purchase by Yahoo Japan stocks of the BitARG exchange will be carried out through its affiliated division by Tokyo YJFX which specializes in services of exchange of foreign currencies.
The deal will be worth about 2 billion yen (about $19 million). Additional investments will be carried out by other companies of the Yahoo group during the period from January to March 2019.
Next month, heads and engineers of YJFX will be sent to BitARG where within a year will work on the development of the new exchange platform, a corporate management system, client services and also the systems of internal control.
Yahoo! Japan Corporation is the most popular Internet resource in Japan. This joint venture of the American Internet company Yahoo! and the Japanese Softbank unites a search engine, free service of e-mail, the news website and an online auction.