Yahoo Japan has bought a 40 per cent stake in BitARG, the cryptocurrency exchange based in Tokyo, it has now been confirmed.
The aquisition was made by Z Corporation, a domestic subsidiary of Yahoo Japan, with a minority stake in BitARG now owned by the tech giant.
The exchange opporator said: “As a result of this capital participation, the company will be able to utilize the service operation and security expertise of the Yahoo Japan Group, which will make it easier for customers to prepare for the start of the exchange service managed by the company and to improve the operation after the commencement we will promote the provision of secure exchange services.”
The financial nitty gritty of the deal has not been publicly revealed, but Reuters has reported unofficial figures of around 2-3 billion yen ($18.5-27.8 million).
Crypto-related services are set to launch later this year, putting Yahoo firmly in the crypto game by the end of 2018.