The three most popular brokers in Japan are reporting increased demand from their clients for cryptocurrency trading services.
In the next report “Cryptocurrency Landscape of Asia”, Messari analysts note that the operating profit and the volume of assets of cryptocurrency platforms launched by large Japanese brokers are rapidly catching up with the performance of traditional cryptocurrency exchanges. Digital asset trading platforms have been launched by the three largest Japanese brokers – SBI, Rakuten and Monex.
“Large asset management funds are lobbying for permission from the authorities to launch cryptocurrency custody services and exchange-traded funds for digital assets. If such companies receive approval from regulators, then traditional banks can launch similar services, ”- declares
Messari analyst Mira Christanto.
According to Messari, since April 2017, Japan has issued 26 licenses to launch cryptocurrency exchanges. At the moment, bitFlyer is the largest exchange in Japan with assets exceeding $ 1 billion.
Messari previously reported that China is still the most active region of the cryptocurrency industry, with Chinese miners controlling 65% of Bitcoin’s hashrate.
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