It seems that the Japanese forex brokerage Money Partners Group (TYO:8732) is seriously intent on investing in bitcoin and blockchain technology.
About a month after it announced it will invest an undisclosed sum in Payward – the operator of the Kraken bitcoin exchange, it entered into a business alliance with the Japanese TechBureau, the parent company of one of the country’s largest cryptocurrency exchanges – Zaif.
According to the announcement from the end of April, Money Partners Group has invested JPY 49 million in TechBureau, which besides operating Zaif, develops the private blockchain platform Mijin.
Through the alliance the two companies will provide services using bitcoin, starting by the end of this year.
Money Partners Group and TechBureau have not provided details about their common business enterprise, but obviously are planning to join the growing number of Japanese companies utilizing the cryptocurrency technology and bitcoin in particular. A couple of weeks ago Japan’s largest cryptocurrency exchange – bitFlyer – launched an online shop that accepts bitcoin. Earlier this year Fisco, a leading provider of real-time financial information for corporate and individual investors, announced it is setting up a cryptocurrency exchange, while DMM.com – a major online entertainment and shopping platform teamed up with the cryptocurrency exchange Coincheck and started accepting payments in bitcoin.
Money Partners Group is a holding company which is comprised of forex and contracts for difference (CFDs) broker Money Partners and financial system development company Money Partners Solutions. It serves both retail and institutional clients.
In the beginning of April TechBureau’s bitcoin exchange Zaif reported record-high bitcoin turnovers for two days in a row.