Japanese wine company will acquire crypto exchange
Madison Holding Group, the largest wine company in Hong Kong, wants to buy shares of the Japanese exchange BitOcean
The wine consortium included in the Growth Enterprise Market (GEM) directory of the Hong Kong Stock Exchange wants to acquire a majority stake in a Japanese cryptocurrency trading platform. The alliance aims to achieve a better performance for the shareholders of the company.
According to an official statement, Madison Holding Group will buy 67.2 percent of BitOcean from third parties for approximately $ 15.12 million, while also paying another $ 15 million in other fees.
Currently, BitOcean is among the registered operators in the Financial Services Agency (FSA) of Japan. In the meantime, Raymond Ting Pang-wan, president of Madison, said the agreement is part of the diversification and expansion strategy of the company.
In addition, Ting stressed that Japan is a particularly appropriate destination for a cryptocurrency trading platform, since “it represents around 20 percent of the bitcoin trade worldwide.”
The ecosystem has become so necessary in Japan that several studies reveal that the exchanges between cryptocurrencies and Japanese yen will exceed those made between cryptoactives and US dollars this year.
L.Sáenz
Source: DiarioBitcoin
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