Amber Group has procured DeCurret Inc., a crypto-asset exchange service provider, which is registered with the Japanese Financial Services Agency (FSA).
Finance Magnates recently learned that Amber Group, a global digital asset platform, announced that its subsidiary, WhaleFin Holdings Japan K.K (WhaleFin Japan) has acquired DeCurret Inc., a crypto asset exchange subsidiary of DeCurret Holdings,
The deal will provide Amber Group access to the Japanese market. Further, it has acquired a Crypto-Asset Exchange Service Provider (CAESP) also registered with the FSA. Since it is one among 30 registered CAESPs that have operated in Japan since 2018, DeCurret holds a strong position in the crypto exchange market.
The purchase will build on the synergies between the two parties, Amber Group and DeCurret. Thus, Amber Group’s user-first digital asset investing tools under WhaleFin will combine with DeCurret’s crypto exchange offering and its extensive in-market reach. Consequently, this will open the doors to Japan’s crypto market potential.
Also, Amber Group manages digital assets worth $5 billion on its platform. Therefore, it will catalyze the adoption of Japan’s digital assets that recorded seven times the crypto deposit growth in 2021.
Japan Crypto Market Holds Tremendous Strategic Value
Michael Wu, the Global Chief Executive Officer of Amber Group, said: "Japan holds tremendous strategic value as a significant crypto finance market, and we are proud to be integrating the best of both WhaleFin and DeCurret as we expand our presence in the country. As a leading crypto exchange with deep roots in Japan, DeCurret has not only market expertise and strong backing from major industry heavyweights but its user-first functionalities lend itself well to WhaleFin’s offering and its ethos in democratizing crypto finance for everyone. This acquisition lays the foundation for us to continue building user confidence in crypto assets through ease and accessibility, marking a new chapter for crypto finance in Japan.”
“We are very pleased to have Amber Group, one of the fastest-growing global crypto asset companies, take over the DeCurret initiative. We sincerely wish them success in the Japanese market and the continued growth of the Amber Group,” the President and CEO of DeCurret Holdings, Inc., Kazuhiro Tokita added.
A Subsidiary in Japan Registered with the FSA
This acquisition has enabled Amber Group to operate a registered CAESP as DeCurret’s registration status allows the Group and its subsidiary, WhaleFin Japan, to introduce regulated crypto exchange and custody services that are compliant with the financial market regulations in Japan.
“We are honoured to add a subsidiary in Japan that is registered with FSA, and this is a landmark moment for Amber Group as we make inroads into the thriving Japanese market. Regulatory compliance is critical to cement the reputation of crypto assets as a credible and trusted asset class globally. As we expand our global footprint and drive crypto-asset innovation across the international financial ecosystem, we are committed to upholding the highest regulatory compliance standards, and to meeting the standards and trust expected of an FSA-approved institution,” Wu stated.
Previously, DeCurret pioneered the introduction of an electronic money charge service for crypto-assets, and led the industry in making cryptocurrency more accessible to consumers.
