OKCoin, a fiat-cryptocurrency exchange with service in 184 countries, announced today the completion of its registration with the Kanto Local Finance Bureau as a Virtual Currency Exchange Service Provider based on Japan’s Payment Services Act for its OKCoin Japan K.K. (OKCoin Japan) entity.
Traders will soon be able to deposit and withdraw Japanese yen for Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic. The Japanese yen will join the US dollar, euro, and the Singapore dollar in OKCoin’s growing acceptance of fiat currencies.
OKCoin Japan is the Japanese subsidiary of OK Group, one of the major providers of blockchain-related technologies and cryptocurrency-focused services.
Since its establishment in September 2017, OKCoin Japan has focused on building a comprehensive framework of business operation and internal governance to ensure its compliance with the Payment Services Act and related regulations, business guidelines issued by the Japanese financial regulator Financial Services Agency (FSA), and self-regulatory rules promulgated by the Japan Virtual Currency Exchange Association (JVCEA).
OKCoin Japan will soon launch its exchange service for individuals and companies in Japan. Service details and schedules will be announced shortly.