Publicly listed companies in Japan are joining the crypto space at a very high rate. A recent report showed that six fully listed companies were launching their own crypto exchanges. The same report says 3 more listed companies plan to enter the space with different crypto offerings.
Appbank Comes Out Blasting
Appbank Inc. plans and manages content distribution, like videos and live broadcasts, through the operation of a gaming and smartphone-related media site. Named Appbank.net, it also plans to join the crypto space. The company, claiming to be the biggest Japanese iPhone media service, announced launching a virtual currency distribution content platform known as @Blast. The announcement claims Appbank will be opening the platform this month with the aim of helping crypto investors.
According to Appbank, “@Blast is a web service platform that distributes virtual currencies through various content centered on games and entertainment.” Using the @Blast platform, the company aims to promote the spread of cryptocurrencies while offering users a place to interact with digital currencies and learn how they operate.
I-Freek Mobile Inc. Joins The Fray
Another registered company with similar plans is I-Freek Mobile Inc. They are a mobile phone content provider. This company recently announced that it had modified its Articles of Incorporation to actively operate as cryptocurrency exchange. I-Freek Mobile expects to launch its exchange platform in the company’s general meeting of stakeholders on June 27th .
Samurai & J Partners, popular for its banking, fintech and IT services, is also announcing its entrance into the cryptocurrency space. The company will enter the market through its subsidiary, Samurai, catalogs a crypto-related fund called the Virtual Currency Mining Fund. The company says it will start offering tokens and even start a money lending platform for cryptocurrency holders and investors.
The cryptocurrency market is becoming a good escape route for companies which are struggling financially. Many companies are joining the arena either as miners or exchanges, not to mention those launching their own digital coins. Despite the price of cryptocurrencies falling, and the sector losing more than 50% of its market cap value, the potential entrance of institutional investors looks reassuring. This could be very important towards popularizing the market and pushing it closer to going mainstream.