Home / Cryptocurrency / Fisco completes the acquisition of the Japanese encryption Zaif

Fisco completes the acquisition of the Japanese encryption Zaif

Fisco completes the acquisition of the Japanese encryption Zaif

exchanges

Change of regulated Japanese cryptocurrency Zaif completed its business transfer. Fisco Cryptocurrency Exchange is the new operator that takes over from Tech Bureau. This follows the September hack of Zaif, which cost the exchange about 62 million dollars in three different cryptocurrencies.

Read also: Yahoo! Japan confirms entry into cryptographic space

An operator, two separate exchanges

<img class = "size-medium wp-image-250533 alignright” title=”Fisco completes the acquisition of the exchange of Japanese cryptocurrencies Zaif” src=”https://news.bitcoin.com/wp-content/uploads/2018/11/fisco-logo-300×85.png” alt=”I complete the acquisition of the Japanese cryptocurrency exchange Zaif "width =" 300 "height =" 85 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/11/fisco-logo -300×85.png 300w, https://news.bitcoin.com/wp-content/uploads/2018/11/fisco-logo-768×216.png 768w, https://news.bitcoin.com/wp-content/uploads / 2018/11 / fisco-logo-1024×289.png 1024w, https://news.bitcoin.com/wp-content/uploads/2018/11/fisco-logo-696×196.png 696w, https: //news.bitcoin .com / wp- content / upload / 2018/11 / fisco-logo-1068×301.png 1068w, https://news.bitcoin.com/wp-content/uploads/2018/11/fisco-logo.png 1359w "sizes = "(max width: 300px) 100vw, 300px”/>The Tech Bureau Corp. of Osaka, which operated the exchange of cryptocurrencies Zaif, announced that it completed the transfer of all activities of Zaif to Fisco Cryptocurrency Exchange Inc. Fisco also operates a regulated Japanese exchange with the name Fisco Cryptocurrency Exchange ( Fcce).

<img class = "size-medium wp-image-250536 alignright” title=”Fisco completes the acquisition of the exchange of Japanese cryptocurrencies Zaif” src=”https://news.bitcoin.com/wp-content/uploads/2018/11/zaif-300×125.png” alt=”Taxation completes acquisition of Japanese cryptocurrency exchange Zaif "width =" 300 "height =" 125 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/11/zaif-300×125 .png 300w, https: //news.bitcoin.com/wp-content/uploads/2018/11/zaif.png 696w "sizes =" (maximum width: 300px) 100vw, 300px”/>Starting November 22nd, Fisco Cryptocurrency Exchange is the new operator of Zaif. Tech Bureau has clarified that Fisco will manage both its own purse and Zaif "as separate services as before".

The acquisition follows the Zaif hack, which occurred on September 14, from which the exchange claims to have lost 7 billion yen (~ $ 62 million). Following the hack, Fisco agreed to provide "financial support of ¥ 5 billion yen" to the Tech Bureau and has entered into a "patrimonial alliance that allows the acquisition of the majority of the company's shares".

Dissolution and suspension of services

<img class = "size-medium wp-image-250539 alignright” title=”Fisco completes the acquisition of the exchange of Japanese cryptocurrencies Zaif” src=”https://news.bitcoin.com/wp-content/uploads/2018/11/sign-1-300×207.png” alt=”Fisco completes acquisition of Japanese cryptocurrency exchange Zaif "width =" 300 "height =" 207 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/11/sign-1 -300×207.png 300w, https://news.bitcoin.com/wp-content/uploads/2018/11/sign-1-768×529.png 768w, https://news.bitcoin.com/wp-content/uploads / 2018/11 / sign-1-1024×705.png 1024w, https://news.bitcoin.com/wp-content/uploads/2018/11/sign-1-100×70.png 100w, https: //news.bitcoin .com / wp- content / upload / 2018/11 / sign-1-218×150.png 218w, https://news.bitcoin.com/wp-content/uploads/2018/11/sign-1-436×300.png 436w , https: // news.bitcoin.com/wp-content/uploads/2018/11/sign-1-696×479.png 696w, https://news.bitcoin.com/wp-content/uploads/2018/11/ sign-1-1068×735 .png 1068w, https://news.bitcoin.com/wp-content/uploads/2018/11/sign-1-610×420.png 610w, https://news.bitcoin.com/wp- content / uploads / 2018 /11/sign-1.png 1178w "sizes =" (maximum width: 300px) 100vw, 300px”/>Current users of Zaif have been asked to consent to the transfer of business before they can resume using the exchange.

The Zaif website now displays the message: "The site administration has changed to Fisco Cryptocurrency Exchange Inc … We ask all users who have not accepted the migration of their contract in the Business Transfer to complete the procedures consent. " Members who have consented may continue to use Zaif's services, minus some who have been temporarily suspended. For those who did not consent, Tech Bureau explained:

Since we intend to conduct the process of dissolution after the abolition of the registration of the virtual currency exchange after the transfer [to Fisco], it is highly unlikely we can do it [continue to] offer services related to the Zaif business.

<img class = "size-medium wp-image-250541 alignright” title=”Fisco completes the acquisition of the exchange of Japanese cryptocurrencies Zaif” src=”https://news.bitcoin.com/wp-content/uploads/2018/11/btc-300×229.png” alt=”Revenue completes acquisition of Japanese cryptocurrency exchange Zaif "width =" 300 "height =" 229 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/11/btc-300×229 .png 300w, https: //news.bitcoin.com/wp-content/uploads/2018/11/btc-768×585.png 768w, https://news.bitcoin.com/wp-content/uploads/2018/11 / bTC-80×60. png 80w, https://news.bitcoin.com/wp-content/uploads/2018/11/btc-696×530.png 696w, https://news.bitcoin.com/wp-content/uploads/2018/11/ btc-551×420.png 551w, https://news.bitcoin.com/wp-content/uploads/2018/11/btc.png 856w "sizes =" (maximum width: 300px) 100vw, 300px”/>Some services were suspended during the transition period, such as deposits and withdrawals of BTC, BCH and MONA – the three cryptocurrencies stolen in the September hack. Members also can not buy or sell MONA at this time. Furthermore, withdrawals of a certain number of cryptocurrencies have been discontinued.

The Zaif Coin Reserve service, which Tech Bureau describes as a "fixed-rate deposit service for virtual currencies", has also been suspended. This includes new registrations, debits from bank accounts and purchases of cryptocurrencies through the service.

The exchange scene in Japan

<img class = "size-medium wp-image-250542 alignright” title=”Fisco completes the acquisition of the exchange of Japanese cryptocurrencies Zaif” src=”https://news.bitcoin.com/wp-content/uploads/2018/11/flag-300×241.png” alt=”Taxation completes acquisition of Japanese cryptocurrency exchange Zaif "width =" 300 "height =" 241 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/11/flag-300×241 .png 300w, https: //news.bitcoin.com/wp-content/uploads/2018/11/flag-768×617.png 768w, https://news.bitcoin.com/wp-content/uploads/2018/11 / flag-696×560. png 696w, https://news.bitcoin.com/wp-content/uploads/2018/11/flag-522×420.png 522w, https://news.bitcoin.com/wp-content/uploads/2018/11/ flag.png 862w "sizes =" (maximum width: 300px) 100vw, 300px”/>Both Zaif and Fisco Cryptocurrency Exchange are among the 16 regulated cryptocurrency markets in Japan. The others are Bitflyer, Money Partners, Bitbank, Bitpoint, Quoine, SBI Virtual Currencies, Btcbox, GMO Coin, Bittrade, DMM Bitcoin, Bitarg Exchange Tokyo, Ftt Corporation, Xtheta Corporation and Bitocean.

In September, Huobi acquired a majority stake in Bittrade. In April, Yahoo! Japan has confirmed the acquisition of Bitarg through its wholly-owned subsidiary Z Corporation.

Japan also has three other cryptographic exchanges that have been authorized to operate while their applications have been reviewed by the country's financial regulatory authority. The three are Coincheck, Lastroots and Everyco & # 39; s Bitcoin. Coincheck was acquired by Monex Group after being violated in January. SBI Group is an important investor in Lastroots and Everybody's Bitcoin has been acquired by Rakuten.

What do you think of the fact that Fisco has conquered Zaif? Let us know in the comments section below.


Images courtesy of Shutterstock, Fisco and Tech Bureau.


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