Japan's BitFlyer Raises $1.6 Million for Bitcoin Exchange Expansion
A former Goldman Sachs employee has raised $1.6m in funding to power a new Japan-based bitcoin exchange, according to Bloomberg Businessweek. Called bitFlyer, the exchange aspires to recapture the market position vacated by Mt. Gox, the Japan-based exchange that was once the ecosystem's largest trading platform. BitFlyer is seeking additional capital from overseas VCs and hopes to launch in markets outside of Japan before 2015, the report says. The exchange is the brainchild of 38-year-old former derivatives and convertible bonds trader Yuzo Kano, who left his job at Goldman Sachs in....
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Japanese exchange Bitflyer has announced a 50 million Yen investment into a new fund which will see Osaka-based IoT startup Sivira as the first company to benefit from the fund. According to the exchange, this is in an effort to support and encourage the growth of blockchain businesses in Japan. Bitflyer has termed this new investment activity, “Block Chain Angel Fund.” Even though this is Bitflyer’s first investment of this type, it sounds as though it will not be their last. In its press release, Bitflyer states that it chose to make the investment in Sivira because of the track record....
Bitcoin exchange bitFlyer has raised approximately 510m JPY ($4m) through third-party allotment, which entails issuing new shares to a limited number of investors. According to a company statement, investors included VC firms Mitsubishi UFJ Capital Co - one of Japan's largest investors - Venture Labo Investment Co and Mitsui Sumitomo Insurance Venture Capital Co. Dentsu Digital Holdings Inc - a business management company in the digital communications market - and financial information provider Quick Corp also participated in the round. Japan-based bitFlyer said it would use the latest....
In a significant development within the crypto sector, BitFlyer Holdings has successfully negotiated the acquisition of FTX Japan, the local subsidiary of the bankrupt crypto exchange FTX. This move is poised to reshape the landscape of digital asset trading in Japan, leveraging BitFlyer’s established reputation and FTX Japan’s existing infrastructure. Related Reading: Bitcoin Miners Feeling […]
Tokyo-based bitcoin exchange bitFlyer has raised $236,000 in investment that the firm says will be used to fund additional services, as well as expansion outside Japan. BitFlyer previously raised $1.6m in July with the goal of becoming the leading player in the country's expanding bitcoin market. Notably, the latest funding was provided by Barry Silbert's Bitcoin Opportunity Corp (BOC), which has invested in a large number of bitcoin startups including Coinbase, Circle, BitPay, Safello and others. This is the first time, however, that the BOC has invested in a Japanese company. Silbert....
Leading Japanese bitcoin exchange bitFlyer has revealed the successful completion of a ¥3 billion ($27 million) funding round, the largest funding round ever by a bitcoin and Fintech company in Japan. In a funding round led by Japanese investor SBI Investment and Tokyo-based venture capital firm Venture Labo Investment, prominent Japanese digital currency exchange operator bitFlyer has raised around 3 billion yen ($27 million) in new capital. Shares were issued this week via a third-party to investors including the funds overseen by Venture Labo Investment and SBI Investment. The....