Decurrent has been granted a license of spot trading services by Japan’s Financial Service Agency (FSA) and is determined to enlist BTC, ripple, LTC, BCH as well as ETH. Decurrent has the potential to flourish as over $5billion capital has been announced that attracts the investors from all sectors.
The senior managing Executive officer of IIJ has been appointed as the president of Decurrent that shows a strong bond between the two firms.
The spot trading service will be operational from 16th of this month by Decurrent. Internet Initiative Japan (IIJ) is the regions’ first internet service provider, and Decurrent is the outcome of IIJ.
Japan has faced many internet hacks in the past and security threat is the massive issue to be catered. It was reported that Japan had suffered five-hundred and fifty-four million dollars ($540m) worth of cryptocurrency hacks by June 2018. A similar incident had been reported, where Mt Gox lost four hundred and fifty million dollars ($450m) to an internal hack.
FSA took the initiative of giving warnings to the Bitcoin exchanges to tighten their security parameters and also issue warnings that strict actions would be taken for the hackers. After adopting these measures, the police noticed a decline in the hacking related crypto cases.
The professional competence and regulatory standards have made this firm an attraction for Japanese investors’ class. Decurrent has adopted standard measures for service structure such as receiving, exchanging and storing the digital currencies.
Decurrent’s caliber is now at par with FSA’s standards, and the firm is determined to provide security and proper administrative services. Decurrent so far has granted the license to only two Rakuten-which is another Tokyo based firm- after analyzing a number of firms; owing to their strict regulatory measures.