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  5. Payward Asia, a crypto asset exchange service provider, has completed the Financial Services Agency's screening process and launched services in Japan

Latest UpdatesPayward Asia, a crypto asset exchange service provider, has completed the Financial Services Agency's screening process and launched services in Japan

Jan 07, 2021

Logo of Kraken

Payward Asia, Inc.External site: a new window will open. is a Japanese subsidiary of Kraken based in San Francisco. the U.S. Kraken offers more than 4 million traders and institutional investors worldwide trading in 44 digital assets and seven fiat currencies (Euro, US Dollar, Canadian Dollar, British Pound, Japanese Yen, Swiss Franc, and Australian Dollar).

The company once launched services in Japan in 2014 but ceased offering trading to Japanese residents in 2018. Since then, it has been preparing to reopen the exchange by building up a structure according to laws and regulations related to payment services. In September 2020, Payward Asia completed its registration as a crypto asset exchange service provider with the Financial Services Agency. It began deposits and withdrawals in Japanese Yen and trading services in October. The company has thus re-entered the Japanese market with its base in Tokyo. It has already begun spot trading for five major assets, including Bitcoin (XBT), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC). Amid a renewed interest in crypto assets in Japan, the company will provide Japanese traders and institutional investors with new investment opportunities by ensuring robust security.

Upon establishing its base in Japan, JETRO's Invest Japan Business Support Center (IBSC) provided market-information and the use of IBSC facilities, assisted in public relations, and introduced service providers.