Announced Thursday in a company blog post, Kraken said the move comes as the start of a larger push to expand its services within the Asia-Pacific region.
The company had shuttered its local services after the Coincheck exchange's $530 million hack in 2018 spooked local regulators into clamping down on cryptocurrency trading activity.
As part of the conditions for re-entry, Kraken completed registration as a crypto asset exchange service provider under Japan's Payment Services Act on Sept. 8.
“In today’s challenging economic environment, more people are turning to cryptocurrencies to hedge against volatile markets," said David Ripley, Kraken's chief operating officer, in comments on the relaunch.
For users completing Kraken's onboarding process, spot trading is now open for bitcoin (BTC), ether (ETH), XRP XRP$1.4036, bitcoin cash (BCH) and LTC$53.29.
Crypto deposits in these cryptocurrencies have been restored, as have domestic Japanese yen deposits and withdrawals via SBI Sumishin Net Bank.
Users can trade via crypto-to-crypto or yen-to-crypto trading pairs.
Crypto revenue fell 38% year over year to $221M, even as the company expanded token listings and crypto features across its platform.
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Robinhood’s fourth quarter earnings per share of $0.66 topped estimates for $0.63, but revenue of $1.28 billion fell shy of forecasts for $1.33 billion.
The crypto slump paid a large part in the miss, with crypto revenue falling 38% from a year earlier to $221 million.
Robinhood’s results mirror broader crypto-market weakness, which is also expected to weigh on rival Coinbase (COIN), and HOOD shares fell about 7% in post-market trading after the earnings release.