{"id":7363,"date":"2018-06-01T07:37:39","date_gmt":"2018-06-01T07:37:39","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=7363"},"modified":"2018-06-01T10:37:11","modified_gmt":"2018-06-01T10:37:11","slug":"intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/","title":{"rendered":"Int’l Investor Acquires Licensed Japanese Crypto Exchange Bit-Trade"},"content":{"rendered":"

\"\"Eric Cheng, a Singapore-based multi-millionaire businessman has acquired the Japanese cryptocurrency exchange BitTrade <\/a>for ~$50 million (S$67 million). BitTrade is one of the 16 cryptocurrency exchanges to own a license from Financial Services Agency (FSA), the Japanese financial watchdog.<\/p>\n

The investment enables Cheng to acquire a 100% stake in BitTrade. The investor is also taking over FX Trade Financial co., a leading Forex trading platform of Japan and sister company of BitTrade.<\/p>\n

It is the first time a foreign investor has gained a 100% stake in an FSA-licensed trading platform.<\/p>\n

Commenting on the acquisition Cheng said<\/p>\n

The cryptocurrency industry is growing exponentially. Against this backdrop, the key to capturing the rising demand is having a well-regulated and licensed outfit. With this Japanese FSA-licensed platform, I will work closely with the regulators to scale this platform globally.<\/p><\/blockquote>\n

The management teams on either side has vouched to work together to expand their services, strengthen cybersecurity, and build better user-friendly interfaces. BitTrade has earlier stated that the policy does not permit a change in the basic framework, under the new ownership. All the offered services will continue.<\/p>\n

In January, Coincheck, an unregulated cryptocurrency exchange lost $532 million worth NEM (XEM) cryptocurrency in a hacking incident.<\/a> Nearly five years ago, a similar hacking incident left Mt. Gox, now a redundant exchange, lose 744,000 Bitcoins. Following the Coincheck hacking incident, the Japanese regulators have tightened the rules for running a cryptocurrency exchange.<\/p>\n

Regular auditing and other cybersecurity checks are performed by regulators to avoid another repeat of the incident. Some of the cryptocurrency exchanges have withdrawn their application and shifted elsewhere. However, the stringent regulations also permit a long-term growth as Japan contributes to more than 1\/3rd of Bitcoin trading volume.<\/p>\n","protected":false},"excerpt":{"rendered":"

Eric Cheng, a Singapore-based multi-millionaire businessman has acquired the Japanese cryptocurrency exchange BitTrade for ~$50 million (S$67 million). BitTrade is one of the 16 cryptocurrency exchanges to own a license from Financial Services Agency (FSA), the Japanese financial watchdog. The investment enables Cheng to acquire a 100% stake in BitTrade. The investor is also taking […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-7363","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"yoast_head":"\nInt'l Investor Acquires Licensed Japanese Crypto Exchange BitTrade<\/title>\n<meta name=\"description\" content=\"Eric Cheng, a Singapore-based multi-millionaire businessman has acquired the Japanese cryptocurrency exchange BitTrade for ~$50 million (S$67 million). BitTrade is one of the 16 cryptocurrency exchanges to own a license from Financial Services Agency (FSA), the Japanese financial watchdog.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Int'l Investor Acquires Licensed Japanese Crypto Exchange BitTrade\" \/>\n<meta property=\"og:description\" content=\"Eric Cheng, a Singapore-based multi-millionaire businessman has acquired the Japanese cryptocurrency exchange BitTrade for ~$50 million (S$67 million). BitTrade is one of the 16 cryptocurrency exchanges to own a license from Financial Services Agency (FSA), the Japanese financial watchdog.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-01T07:37:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-06-01T10:37:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/bittrade.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"Int’l Investor Acquires Licensed Japanese Crypto Exchange Bit-Trade\",\"datePublished\":\"2018-06-01T07:37:39+00:00\",\"dateModified\":\"2018-06-01T10:37:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/\"},\"wordCount\":289,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/bittrade.jpg\",\"articleSection\":[\"Cryptocurrency\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/\",\"name\":\"Int'l Investor Acquires Licensed Japanese Crypto Exchange BitTrade\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/bittrade.jpg\",\"datePublished\":\"2018-06-01T07:37:39+00:00\",\"dateModified\":\"2018-06-01T10:37:11+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"Eric Cheng, a Singapore-based multi-millionaire businessman has acquired the Japanese cryptocurrency exchange BitTrade for ~$50 million (S$67 million). BitTrade is one of the 16 cryptocurrency exchanges to own a license from Financial Services Agency (FSA), the Japanese financial watchdog.\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/bittrade.jpg\",\"contentUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/06\\\/bittrade.jpg\",\"width\":380,\"height\":250},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/\",\"name\":\"\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\",\"name\":\"Cameron Bishop\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f635e871248df28d6828ec38af2b48c04796e65e714639cfa0c2d3d1c91b0bc7?s=96&d=monsterid&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f635e871248df28d6828ec38af2b48c04796e65e714639cfa0c2d3d1c91b0bc7?s=96&d=monsterid&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f635e871248df28d6828ec38af2b48c04796e65e714639cfa0c2d3d1c91b0bc7?s=96&d=monsterid&r=g\",\"caption\":\"Cameron Bishop\"},\"description\":\"Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/author\\\/cameron-bishop\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Int'l Investor Acquires Licensed Japanese Crypto Exchange BitTrade","description":"Eric Cheng, a Singapore-based multi-millionaire businessman has acquired the Japanese cryptocurrency exchange BitTrade for ~$50 million (S$67 million). BitTrade is one of the 16 cryptocurrency exchanges to own a license from Financial Services Agency (FSA), the Japanese financial watchdog.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/","og_locale":"en_US","og_type":"article","og_title":"Int'l Investor Acquires Licensed Japanese Crypto Exchange BitTrade","og_description":"Eric Cheng, a Singapore-based multi-millionaire businessman has acquired the Japanese cryptocurrency exchange BitTrade for ~$50 million (S$67 million). BitTrade is one of the 16 cryptocurrency exchanges to own a license from Financial Services Agency (FSA), the Japanese financial watchdog.","og_url":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/","article_published_time":"2018-06-01T07:37:39+00:00","article_modified_time":"2018-06-01T10:37:11+00:00","og_image":[{"url":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/bittrade.jpg","type":"","width":"","height":""}],"author":"Cameron Bishop","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Cameron Bishop","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/#article","isPartOf":{"@id":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/"},"author":{"name":"Cameron Bishop","@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/0e2e077765174748afc2362c890e3f91"},"headline":"Int’l Investor Acquires Licensed Japanese Crypto Exchange Bit-Trade","datePublished":"2018-06-01T07:37:39+00:00","dateModified":"2018-06-01T10:37:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/"},"wordCount":289,"commentCount":0,"image":{"@id":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/bittrade.jpg","articleSection":["Cryptocurrency"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/","url":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/","name":"Int'l Investor Acquires Licensed Japanese Crypto Exchange BitTrade","isPartOf":{"@id":"https:\/\/www.legitgambling.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/#primaryimage"},"image":{"@id":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/#primaryimage"},"thumbnailUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/bittrade.jpg","datePublished":"2018-06-01T07:37:39+00:00","dateModified":"2018-06-01T10:37:11+00:00","author":{"@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/0e2e077765174748afc2362c890e3f91"},"description":"Eric Cheng, a Singapore-based multi-millionaire businessman has acquired the Japanese cryptocurrency exchange BitTrade for ~$50 million (S$67 million). BitTrade is one of the 16 cryptocurrency exchanges to own a license from Financial Services Agency (FSA), the Japanese financial watchdog.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.legitgambling.com\/news\/intl-investor-acquires-licensed-japanese-crypto-exchange-bittrade\/#primaryimage","url":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/bittrade.jpg","contentUrl":"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/06\/bittrade.jpg","width":380,"height":250},{"@type":"WebSite","@id":"https:\/\/www.legitgambling.com\/news\/#website","url":"https:\/\/www.legitgambling.com\/news\/","name":"","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.legitgambling.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.legitgambling.com\/news\/#\/schema\/person\/0e2e077765174748afc2362c890e3f91","name":"Cameron Bishop","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f635e871248df28d6828ec38af2b48c04796e65e714639cfa0c2d3d1c91b0bc7?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f635e871248df28d6828ec38af2b48c04796e65e714639cfa0c2d3d1c91b0bc7?s=96&d=monsterid&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f635e871248df28d6828ec38af2b48c04796e65e714639cfa0c2d3d1c91b0bc7?s=96&d=monsterid&r=g","caption":"Cameron Bishop"},"description":"Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.","url":"https:\/\/www.legitgambling.com\/news\/author\/cameron-bishop\/"}]}},"_links":{"self":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/posts\/7363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/comments?post=7363"}],"version-history":[{"count":0,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/posts\/7363\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/media?parent=7363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/categories?post=7363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legitgambling.com\/news\/wp-json\/wp\/v2\/tags?post=7363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}