Yahoo! Japan confirms of entering the crypto space on Friday. It's carried out by acquiring a stake in one of the cryptocurrency exchanges of Japan, Bitarg Exchange Tokyo Co. Ltd. which is already licensed by the financial regulator of the nation.

The company is planning to launch the 'easy-to-use' exchange for cryptocurrencies in the fall of this current year. Yahoo! Japan has a good dominance over Japan's Internet industry.

Yahoo! Japan has confirmed the stake in Bitarg exchange, to be 40% through one of its fully owned subsidiary, Z Corporation. Rest 60% stake remains in the hands of the parent company of Bitarg, CMD Lab. One of the close sources revealed the deal to probably going to add up to $18.6 million to $27.9 million.

CMD Lab Representative Director Yoon Hee Yuan stated:

“We decided to expand the virtual currency business by collaborating with Z Corporation,”

Recently, Bitarg posted a notice on its site on Friday, expressing:

Today, the company decided to accept capital participation from Z Corporation…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, [in order] to prepare for the start of the exchange service managed by the company and to improve the operation after the commencement.

After the Coincheck hack, The FSA has been assessing all cryptocurrency exchanges in the nation and currently issuing business change and business suspension orders following which some of the companies have withdrawn their applications.

However, The Bitarg exchange got a license from the Financial Services Agency (FSA) to trade bitcoin (BTC) in December of a year ago. On this, Yahoo! Japan Vice President Kentaro Kawabe clarified:

The FSA is stating that [their] review will be tightened for new registrations of virtual currency exchanges, and it will be difficult to enter [the space] without [the] acquisition [of existing exchanges].

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