Yahoo Japan mulls move into virtual currencies

Yahoo Japan Corp. is considering entry into the virtual currency exchange business, according to sources. Via a subsidiary, the company is planning to buy a stake in bitARG Exchange Tokyo, a Tokyo-based exchange operator registered with the Financial Services Agency.

Blockchain technology, which is the basis of virtual currencies, is expected to be applied across various business fields. Yahoo Japan is apparently aiming to enter the virtual currency exchange business as soon as possible by forming a capital tie-up with a registered exchange operator.

The subsidiary is YJFX Inc., a financial futures trading company wholly owned by Yahoo Japan. The investment could be decided as early as in April.