Two Japanese Companies Launching Cryptocurrency Exchanges in South Korea

November 20, 2017

Two Japanese Companies Launching Cryptocurrency Exchanges in South Korea

Remixpoint and Metaps, Japanese companies listed on the Tokyo Stock Exchange, are expanding their cryptocurrency activities and entering the South Korean market.

Remixpoint concluded an agreement with the South Korean company Sys & Tech, which develops automated trading systems based on Forex, and launched a cryptocurrency exchange called Bitpoint Korea. According to the company, it will provide the exchange with the cryptocurrency and funds, while its South Korean partner will assume responsibility for the operating part of the exchange, including marketing and providing communication between customers. In addition to the exchange itself, Bitpoint Korea users will have access to spot transactions, as well as to a money transfer service. At the moment, BTC, BCH and ETH are supported on the exchange. In the future, the company plans to integrate the exchange into Korean retail stores.

Metaps is a platform for monetizing applications. The Korean subsidiary of the company, Metapsplus, is developing mobile advertising platforms. Last month, the branch raised 1.1 billion yen through the ICO to develop a cryptocurrency exchange called Coinroom, which was recently launched in beta version. One can exchange BTC, BCH, ETH, ETC, as well as the company's token, pluscoin (PLC) on the exchange. It is worth noting that before the start of the exchange Metapsplus launched a mobile game called Dig Land, in which users were rewarded with bitcoins. The game is available in 141 countries around the world.

No wonder that Japanese companies are joining the South Korean cryptocurrency market. Korean won is the third most traded currency in the cryptoenvironment, yielding to the Japanese yen and the US dollar. Despite this fact, the governments of the countries express the opposite views on this sphere. The authorities of Japan have recognized Bitcoin as the legal method of payment, while in South Korea the regulatory frameworks for cryptocurrencies are still being developed and the ICO procedure is completely banned.

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