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Author Topic: Japanese banks invest in local bitcoin exchange  (Read 2963 times)
Kemarit
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February 14, 2017, 03:10:45 PM
 #1

Mizuho Financial Group and Sumitomo Mitsui Financial Group have joined a $1.75 million funding round for Japan's biggest bitcoin exchange, bitFlyer, according to Nikkei.

The groups made the investments through their venture arms, joining another Japanese giant, Mitsubishi UFJ Financial Group, as bitFlyer stakeholders.

https://www.finextra.com/newsarticle/30136/japanese-banks-invest-in-local-bitcoin-exchange


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February 14, 2017, 03:29:49 PM
 #2

Mizuho Financial Group and Sumitomo Mitsui Financial Group have joined a $1.75 million funding round for Japan's biggest bitcoin exchange, bitFlyer, according to Nikkei.

The groups made the investments through their venture arms, joining another Japanese giant, Mitsubishi UFJ Financial Group, as bitFlyer stakeholders.

https://www.finextra.com/newsarticle/30136/japanese-banks-invest-in-local-bitcoin-exchange




yes that's big decision for japan bank group to support bitcoin as their side stream.
so the using of bitcoin in japan will be increase.

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February 14, 2017, 06:06:26 PM
 #3

Although this does sound like a great thing for bitcoin, will it not also have the undesired result of further centralizing bitcoin to the Asiatic countries? Not trying to FUD, was simply my first thought after reading this.

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February 14, 2017, 06:18:20 PM
 #4

Although this does sound like a great thing for bitcoin, will it not also have the undesired result of further centralizing bitcoin to the Asiatic countries? Not trying to FUD, was simply my first thought after reading this.

Japan is a democracy, there is no Great Firewall, no dictatorship. Their regulations are pretty transparent. Their central bank works well. So there is nothing to worry about.

I'd say adoption in Japan, South Korea, Australia etc would be a welcome boost to bitcoin. It doesn't matter that they are pacific countries. What matters is that they are open democracies and there is no danger of a dictatorship seizing control of exchanges or miners.

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February 14, 2017, 06:45:12 PM
 #5

Excellent progress if bank from Japanese seeks to engage in bitcoin market. I hope Japan can build a lot of quality local exchanges such as China, all players bitcoin worldwide welcomed this good news.

Japan is a country that is very transparent in financial matters. Differences with system in China, the Japanese are more concerned with quality than quantity.

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February 14, 2017, 07:09:34 PM
 #6

Although this does sound like a great thing for bitcoin, will it not also have the undesired result of further centralizing bitcoin to the Asiatic countries? Not trying to FUD, was simply my first thought after reading this.

Japan is a democracy, there is no Great Firewall, no dictatorship. Their regulations are pretty transparent. Their central bank works well. So there is nothing to worry about.

I'd say adoption in Japan, South Korea, Australia etc would be a welcome boost to bitcoin. It doesn't matter that they are pacific countries. What matters is that they are open democracies and there is no danger of a dictatorship seizing control of exchanges or miners.
Thank you for clearing that up, I didnt realize there was so much more involved in the Chinese monopoly of bitcoin (or close enough). I will look into those points you brought up and edify myself further Smiley

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February 14, 2017, 09:27:00 PM
 #7

Although this does sound like a great thing for bitcoin, will it not also have the undesired result of further centralizing bitcoin to the Asiatic countries? Not trying to FUD, was simply my first thought after reading this.
No one is holding any country back .Anyone can invest like those Asian countries and with the way how bitcoin mining works if you are able to invest heavily into mining you will have certain perks with the amount of hash power you generate. When China started regulating bitcoin now its the chance for Japan.

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February 14, 2017, 09:27:29 PM
 #8

That is good news, as this is consolidating Bitcoin's public image and trustworthyness. This will also help spread a bit the trades out of China to make the worst never happen.
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February 14, 2017, 11:21:54 PM
 #9

That is good news, as this is consolidating Bitcoin's public image and trustworthyness. This will also help spread a bit the trades out of China to make the worst never happen.
When the Chinese invested heavily into bitcoin we thought it is good for bitcoin and the price would rice because of it and it was right the prices raised from the bottom and then they started influencing the market a lot and now Japan is investing into bitcoin and hope we wont hear in the future about the manipulation from the Japanese. Grin


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February 14, 2017, 11:28:26 PM
 #10

Although this does sound like a great thing for bitcoin, will it not also have the undesired result of further centralizing bitcoin to the Asiatic countries? Not trying to FUD, was simply my first thought after reading this.
This bank just want to be the first who realise this idea of bitcoin use in banks activity. I'm agree that it's the first step to centralization of bitcoin.

   
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February 27, 2017, 10:22:43 PM
 #11

Although this does sound like a great thing for bitcoin, will it not also have the undesired result of further centralizing bitcoin to the Asiatic countries? Not trying to FUD, was simply my first thought after reading this.
This bank just want to be the first who realise this idea of bitcoin use in banks activity. I'm agree that it's the first step to centralization of bitcoin.
If China has not centralized bitcoin already, now when there will be more and more big players on the market I won't think about centralization but just about finding the balance. There are several other players who have already invested a lot in bitcoin (Dell, etc.).
The new Japanese bank just can't centralize bitcoin. What they can really do is creating a system with an UI similar to the online banking systems. That could help the mass adoption of bitcoin. 

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February 27, 2017, 11:37:55 PM
 #12

Mizuho Financial Group and Sumitomo Mitsui Financial Group have joined a $1.75 million funding round for Japan's biggest bitcoin exchange, bitFlyer, according to Nikkei.
The groups made the investments through their venture arms, joining another Japanese giant, Mitsubishi UFJ Financial Group, as bitFlyer stakeholders.
https://www.finextra.com/newsarticle/30136/japanese-banks-invest-in-local-bitcoin-exchange
Glad to see more big company wanna hold some stakes from the bitcoin exchange business. Glad to see more big company wanna hold some stakes from the bitcoin exchange business. But Did Mitsubishi already hold the stake of the bitflyer from it was starting?


the Japanese are more concerned with quality than quantity.
I like this.

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February 28, 2017, 12:48:25 AM
 #13

Japan is a country where the technology development in all sectors were much advanced compare too other nations. Now this time the focus towards digitization has improved much. Also they're with plans of making profit through this. As a part the bitcoin acceptance have increased a lot among the merchants and now more financial groups have started investing on it.

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February 28, 2017, 01:42:02 AM
 #14

Is it crazy to think that none of these media guys are telling the truth? Each day there is a post stating that "X" nation invests millions of dollars in a startup and maybe even a few Bitcoin exchanges as well. The money isn't noticed within the markets and if Big Banks did invest in Bitcoins Blockchain technology then we would've been at $42,000,000 per coin by now..with transaction fees being $4,200 on the regular.

If Bitcoin could get just a single large investor than that would be fine, but why would they lie about it so much? Unless they are investing the money and the startup guys and Bitcoin Exchanges are just giving them computer air or they are running with the money already?

What a strange CyberWorld I dwell in.

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February 28, 2017, 01:58:39 AM
 #15

I would personally be more inclined to trade on such an exchange as long as there are no International companies involved in running the exchange. Since Japan is also big on the digital side, it is great news if they start rolling out acceptance countrywide.


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OROBTC
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February 28, 2017, 02:24:21 AM
 #16

I would personally be more inclined to trade on such an exchange as long as there are no International companies involved in running the exchange. Since Japan is also big on the digital side, it is great news if they start rolling out acceptance countrywide.


Yes, the more the merrier.  And, as was also pointed out above, Japan, S Korea and Oz are all democracies and respected players in the world economy who play by the rules.

Bitcoin needs more exchanges, buyers & sellers and (especially) merchants who will accept it.
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February 28, 2017, 02:33:25 AM
 #17

It is good to know that banks is accepting Bitcoin and its technology. I hope that more banks will follow Mizuho Financial Group and Sumitomo Mitsui Financial Group decision. Of course, that is only if they fully believe in Bitcoin. I also hope that they are not just interested in the Blockchain technology but Bitcoin in a whole.

Japan is consider one of the technology hub in Asia and I am sure we will have some other great news coming up in Asia in the coming months - especially when the price of Bitcoin reached it peak again. :p.

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Mia Wallace
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February 28, 2017, 02:33:53 AM
 #18

Although this does sound like a great thing for bitcoin, will it not also have the undesired result of further centralizing bitcoin to the Asiatic countries? Not trying to FUD, was simply my first thought after reading this.
The centralizing of bitcoin talk is going on for a very long time.If you are really interested in it any one can purchase the stakes in it as it is open to anybody to invest in it and why does everyone cry that certain countries are empowering more power and can drive the price of bitcoin. Bank is investing in bitcoin exchange and not into bitcoin or into mining equipments,so basically you could convert your coins to yen.
Doms
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February 28, 2017, 02:53:25 AM
 #19

I am assuming that these financial institutions would have wanted to invest more if not for the limit brought about by regulations. Bitcoin is really starting to make waves, more so in Asia, where China is predominantly leading in terms of transactions and probably bitcoin volume. And Japan being so technologically-advanced compared to other Asian countries, we could see more of this sort of becoming the trend for years to come.
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February 28, 2017, 02:58:10 AM
 #20

Bitcoin a true rising star in Japan, i got high expectations that Bitcoin will go really big.
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