WhaleFin enters Japan by acquiring crypto exchange DeCurret

Rick Steves

Amber Group will aim to make the most out of the opportunity to operate a registered CAESP as it allows the company and WhaleFin Japan to introduce regulated crypto exchange and custody services.

Amber Group’s subsidiary WhaleFin Japan has acquired crypto asset exchange DeCurret Inc. in a move that marks the group’s entry into Japan, having acquired a Crypto-Asset Exchange Service Provider (CAESP) registered with Japan Financial Services Agency (FSA).

DeCurret is one of the 30 registered CAESPs operating in Japan since 2018 and is backed by 35 shareholders including leading Japanese financial institutions and corporations.

Japan’s CAESP license falls into WhaleFin’s lap

The crypto asset exchange pioneered the introduction of an electronic money charge service for crypto-assets and led the industry in making cryptocurrency more accessible to consumers.

Marrying Amber Group’s user-first digital asset investing tools under WhaleFin, and DeCurret’s crypto exchange offering and its extensive in-market reach to unlock Japan’s crypto market potential, the acquisition is expected to catalyze the adoption of digital assets in the country, given the seven-fold growth in crypto deposits in 2021 and Amber’s management of $5 billion worth of digital assets on its platform.

Michael Wu, Global Chief Executive Officer at Amber Group, commented: “Japan holds tremendous strategic value as a significant crypto finance market, and we are proud to be integrating the best of both WhaleFin and DeCurret as we expand our presence in the country.

“As a leading crypto exchange with deep roots in Japan, DeCurret has not only market expertise and strong backing from major industry heavyweights but its user-first functionalities lend itself well to WhaleFin’s offering and its ethos in democratizing crypto finance for everyone. This acquisition lays the foundation for us to continue building user confidence in crypto assets through ease and accessibility, marking a new chapter for crypto finance in Japan.”

“We are honored to add a subsidiary in Japan that is registered with FSA, and this is a landmark moment for Amber Group as we make inroads into the thriving Japanese market. Regulatory compliance is critical to cement the reputation of crypto assets as a credible and trusted asset class globally. As we expand our global footprint and drive crypto asset innovation across the international financial ecosystem, we are committed to upholding the highest regulatory compliance standards, and to meeting the standards and trust expected of an FSA-approved institution”, he concluded.

Kazuhiro Tokita, President and CEO of DeCurret Holdings, said: “We are very pleased to have Amber Group, one of the fastest-growing global crypto asset companies, take over the DeCurret initiative. We sincerely wish them success in the Japanese market and the continued growth of the Amber Group.”

Amber Group will aim to make the most out of the opportunity to operate a registered CAESP as it allows the company and WhaleFin Japan to introduce regulated crypto exchange and custody services.

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