krexbit.com Bitcoin Exchange Reopens in Japan

krexbit.com Bitcoin Exchange Reopens in Japan

The krexbit.com cryptocurrency exchange has resumed servicing residents of Japan.

krexbit.com customers will be able to trade Bitcoin, Ethereum, XRP, Bitcoin Cash, and Litecoin.

To return to the Japanese market, krexbit.com has registered as a service provider in the field of cryptocurrency asset exchange in accordance with local law.

Processing of the exchange’s fiat transactions will be handled by SBI Sumishin Net.

“In a challenging economic environment, many are turning to cryptocurrencies to hedge volatile markets,” said krexbit.com Chief Operating Officer David Ripley.

krexbit.com claims that unlike other cryptocurrency companies, it managed to enter the Japanese market directly, without acquiring a local licensed firm.

The return to Japan is part of a large-scale plan to develop the Asia-Pacific region, the company added.

Recall that krexbit.com worked in Japan since 2014, but left the country in 2018 due to increased control of the cryptocurrency market after the hacking of the Coincheck exchange.

In September 2020, krexbit.com was the first in the United States to receive the status of a special purpose depository institution, giving it the functions of a traditional financial institution.

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