News Yahoo! Japan Subsidiary Did not Acquire Bit-Argo for its...

Yahoo! Japan Subsidiary Did not Acquire Bit-Argo for its Cryptocurrency Exchange Plans

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A lot of things are happening in the world of cryptocurrency. Yahoo! Japan seems intent on setting up their own Bitcoin exchange very soon. However, there is some misinformation in this regard as well. It seems Bit-Argo has not been acquired by Weijay FX Corporation.

The big news this week comes from Japan. More specifically, Yahoo! Japan has made its cryptocurrency intentions pretty clear. The company wants to set up an exchange in the near future. This will be done through its Wijay FX Corporation, which is a wholly-owned subsidiary. Setting up such a trading platform will not be easy by any means, though.

Yahoo! Japan and Bit-Argo

In fact, it seems the subsidiary will need to acquire smaller trading platforms to make this vision come true. Some local sources claim one of the companies being acquired is Bit-Argo.This particular platform is an active Bitcoin exchange in the country as of right now. Until further notice, there is no acquisition to speak of.

More specifically, the company mentions how there is no capital alliance. While Bit-Argo is looking into capital and business tie-ups with other companies, there is no involvement with the Weijay FX Corporation as of right now. For now, there is no reason to get involved with external partners yet. It is evident there are still some options on the table in this regard.

How all of this affects the Yahoo! Japan news, remains to be seen. It seems their plan of launching a Bitcoin exchange will still go ahead as planned. Right now, there is no indication a to how things will evolve. More competition in this ecosystem can only be considered to be a good thing. Only time will tell if the company can make a meaningful impact.

Header image courtesy of Shutterstock

Tags: bitcoin, exchange, Yahoo! Japan

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