Značka: Japan

Japan-based crypto exchange DeCurret plans to sell to HK's Amber Group: report

The holding company behind DeCurret, the Japan-based company offering trading and exchanges of digital assets, reportedly plans to sell its crypto business to investment platform Amber Group.According to a Wednesday report from the Nikkei newspaper, DeCurret Holdings intends to sell the crypto branch of its business to the Hong Kong-based company Amber Group in February. Though the details of the acquisition are unclear, the news outlet reported that the sale price would be in the millions of dollars.DeCurret established a new business structure in December 2021, launching a holding company, DeCurret Holdings, and separating its digital currency and crypto business into separate subsidiaries. Under the proposed arrangement, DeCurret Inc. will represent the company’s crypto exchange business, while DeCurret DCP will handle the digital currency business. With the upcoming sale of its crypto arm, DeCurret reportedly plans to focus on digital currencies. Japanese regulators including the country’s Financial Services Agency, or FSA, recognize digital currencies as distinct from crypto. First launched in 2019, DeCurret later received regulatory approval from the FSA and proposed crypto could be used as a payment method for Japan’s public transportation system. However, according to the Nikkei report, the crypto exchange was unable to compete with major companies including BitFlyer and Coincheck and “profits were tapering.”Related: DeCurret Partners with KDDI to Test Digital CurrencyShould the sale go through, it would be another example of a China-based — in this case, Hong Kong — business purchasing one of the few regulated crypto exchanges in Japan. In 2018, Huobi Global’s Japanese subsidiary purchased a majority stake in BitTrade, one of only sixteen regulated exchanges in the country at the time. As of the end of 2021, there were 30 FSA-approved crypto exchange businesses operating in Japan.Based in Hong Kong, the Amber Group achieved a $1 billion valuation in June 2021 following a $100 million funding round. The crypto financial services firm has since backed projects including decentralized exchange aggregator 1inch Network and launched its own nonfungible token studio, called Creator Finance.

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Sega will likely not introduce NFTs for play-to-earn if 'perceived as simple money-making'

The leadership at video game firm Sega Corporation’s holding company has suggested that they may avoid nonfungible tokens in play-to-earn model games based on the response from users.In a Dec. 14 meeting of Sega Sammy Holdings’ CEO Haruki Satomi, senior executive vice president Koichi Fukazawa, and Sega Corporation president Yukio Sugino, the trio said they needed to “carefully assess” how to potentially introduce nonfungible tokens, or NFTs, into Sega titles to “mitigate the negative elements” and work within Japanese regulations. The executives cited “negative reactions” from users overseas rewarded in NFTs for gameplay.“In terms of NFT, we would like to try out various experiments and we have already started many different studies and considerations but nothing is decided at this point regarding [play-to-earn],” said Sega. “We will consider this further if this leads to our mission “Constantly Creating, Forever Captivating,” but if it is perceived as simple money-making, I would like to make a decision not to proceed.”The executives added that any rollout of NFTs in play-to-earn model games would “be better to work with partners on new technologies and domains […] rather than dealing with them in-house.” It’s unclear how the video game company intends to move forward with gauging user interest.Related: Play-to-earn games are ushering in the next generation of platformsThe Sega Corporation is a Japan-based game developer and a subsidiary of the Sega Group Corporation, which merged with the Sammy Corporation in 2004. The company has been behind many popular games since the introduction of Sonic the Hedgehog in the 1990s — Sega’s latest title in the series, Sonic Frontiers, is scheduled to be released in 2022. In April 2021, the company announced it planned to expand into NFTs through a partnership with game developer double jump.tokyo. 当社は、double jump .tokyo株式会社との協業による、ブロックチェーンの技術を活用したNFTデジタルコンテンツについて、2021年夏頃を目途に販売を開始します。https://t.co/b8pMW6dg9G pic.twitter.com/3idW6RI71z— セガ公式アカウント (@SEGA_OFFICIAL) April 27, 2021Should Sega move forward with using NFTs in play-to-earn model games, it would be joining a variety of gaming companies incorporating the technology. In March 2021, France-based game publisher Ubisoft launched One Shot League, a fantasy soccer game developed in collaboration with the Ethereum-based game Sorare.

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SBI announces crypto joint venture with Swiss digital exchange SIX

SBI Digital Asset Holdings, a fully owned subsidiary of Japanese banking giant SBI Holdings, announced a joint crypto venture with Switzerland’s SIX digital exchange (SDX). The joint venture would be set up in Singapore through a crypto issuance company and aims to become a regional liquidity hub for institutions. SBI Holdings CEO Yoshitaka Kitao said:“This is an important step in building the necessary global infrastructure for widespread institutional adoption of digital assets. Together with SDX‘s strength in Switzerland and our planned digital exchange in Osaka, this venture will establish a powerful institutional corridor between Europe and Asia.”The partnership between SBI and SIX banks on growing crypto demand in the Asia-Pacific region and will cater its services to regulated institutions. The venture is expected to formalize its operations by the end of 2021 and start offering its services by early 2022 following regulatory clearance from the Monetary Authority of Singapore.The new undertaking will offer a range of digital asset products and services in the form of tokenized securities such as digital bonds, digital equities and digital securitized loans.SIX did not immediately respond to Cointelegraph’s request for comment.Related: SBI doubled crypto business profits in past fiscal year.SDX chairman called SBI a natural partner for the joint venture given their expertise in the institutional digital asset market and dominance in Asia. Singapore has grown to become a global crypto hub over the past few years. Major crypto exchanges like Binance, FTX, Coinbase, Huobi, and several others have found a home in the country amid regulatory uncertainty around the globe.

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