Japan's bitFlyer Secures ¥3 Billion for Blockchain Efforts

Japan-based bitcoin exchange bitFlyer has raised another ¥3 billion in funding on Tuesday through third-party allocation of shares - the largest round of fundraising by any fintech startup in Japan ever. The firm says that the funds raised will enable the acceleration of its cryptocurrency Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term and services.

The new world of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term, fintech and marketing – register now for the Finance Magnates Conference.

This latest injection of capital (worth almost $28 million), in addition to the $6.5 million it raised last year, makes bitFlyer the second largest bitcoin exchange in the world by current valuation. It reports that the volume of transactions on the exchange in April 2016 was over ¥13 billion, along with a user base of over 150,000.

On Wednesday bitFlyer also joined the Blockchain Association of Japan to help it create policy proposals for the blockchain industry in the country as the Japanese government is looking for ways to regulate and promote the technology.

Today bitFlyer also announced a new service in partnership with FX firm MONEY SQUARE JAPAN, INC. Via this new service the awards tokens of the foreign exchange margin trading services "M2J Points" can be exchanged for Bitcoins.

The Japanese exchange was founded by former Goldman Sachs derivatives trader Yuzo Kano, who reportedly quit his job to do so several months after the collapse of Japan-based MtGox, at one point the world’s largest exchange by volume.