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Coinsquare Partnered With DLTA 21 to Launch Crypto Exchange in Japan | #VentureCanvas

Qadir AK | CoinPedia


The new cryptocurrency marketplace will seek by the country’s financial regulatory approval, whose outcome is still pending because of the ongoing investigations.

In the recent years, the country has grown to become a haven for the blockchain and digital currency business with booming trading volumes and surging market participants.

Dlta21 and Coinsquare Together in a Partnership

Coinsquare- a Canadian crypto exchange, and DLTA 21 Blockchain Corp.- a Canadian blockchain investment bank will launch a centralized digital marketplace for Japanese customers.

On Tuesday, the company made two announcements:

The first announcement was about the official launch of Coinsquare Licensing to

“Enable domestic and international businesses to offer a digital currency trading solution powered by Coinsquare’s technology.”

The company also disclosed that they have already collaborated with some businesses in the Canada and EU to launch white-labeled platforms.

The second announcement was about its plan to serve the Japanese market using Coinsquare Licensing. This launch will be in partnership with Dlta21 Blockchain Corp (Dlta21), formerly named “Protos Blockchain Corp”.

According to the companies:

The new trading platform is to be launched under the Dlta21x brand name after receiving all required regulatory approvals in Japan.

About the Companies

Coinsquare was founded in 2014; it offers trading of BTC, ETH, BCH, LTC, DASH, and DOGE. The exchange claims to be “Canada’s most secure digital currency trading platform,” holding “95% cold storage policy on all digital currency.” The company is also the owner of Coinsquare Mining with operations in Québec.

Dlta21 is a venture capital firm that targets the blockchain startups. The company funds in “early-stage distributed ledger technology startups” and handles “a cryptocurrency trading operation backed by advanced quantitative algorithms,”- explained by the official website.

“In addition to fast-growing interest in Japan to develop world-class decentralized applications on the blockchain (dApps), Japan reportedly accounts for the majority of global Bitcoin trading,”- Matthew Hornor, DLTA21 executive chairman mentioned in a press release. He underlined that, currently, there are 3.5 million crypto traders in the Asian country.

The stake in crypto popularity has paid the cost as Japan has faced the majority of digital scams, incorporating the notorious including hack- “Coincheck”. In January, Coincheck experienced the loss of a total $530 million, which is the biggest attack so far. This became yet a strong motive for Japan’s Financial Services Agency (FSA) to strengthen the exchange regulations.

International Expansion

Coinsquare and DLTA21 have agreed to the regulatory challenge. Coinsquare CEO- Cole Diamond said that Japan is the “unique market” and the Canadian crypto exchange wants to offer its trading technology there.

DLTA21 on its part will offer its expertise in compliance, trading, and blockchain technology. If they get a green signal from FSA, the new trading platform will initially start operating in Japan.

The Japanese Digital Market

Currently, Japan owns 16 government-approved digital exchanges and several “deemed dealers” that hold the authority to operate crypto platforms as their applications will be examined by the financial regulator- the Financial Services Agency (FSA).

However, after the Coincheck incident, the FSA has strengthened its oversight and also sanctioned many deemed dealers. Apart from this, they recently demanded six licensed exchanges to enhance their businesses, counting their largest digital exchange by volume- Bitflyer.

Despite their focused activity on the exchange approval process; the FSA reported to
news.Bitcoin.com:

More than 100 [crypto] operators have expressed their intention of enter the market.

Bonus

Among the firms looking to enter the Japanese market is “Line Corp”- the operator of the famous chat app- Line. This platform also recently announced that they are launching a crypto exchange named “Bitbox”. However, its application with the FSA is still pending, so initially, Line will not be able to offer its services in Japan.

What do you think about the result of the partnership between Coinsquare and Dlta21? Let us know in the comments section below.

The post Coinsquare Partnered With DLTA 21 to Launch Crypto Exchange in Japan appeared first on Cryptocurrency information | Cryptocurrency News | Bitcoin News and Crypto Guide.

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Source: Coinsquare Partnered With DLTA 21 to Launch Crypto Exchange in Japan

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