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Kraken Relaunches Crypto Trading in Japan After Two-Year Break

The exchange had shuttered its Japanese services after Coincheck's $530 million hack in 2018 spooked regulators and prompted a crackdown.

Na-update Abr 14, 2024, 10:54 p.m. Nailathala Okt 22, 2020, 8:57 a.m. Isinalin ng AI
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U.S.-based crypto exchange Kraken is once more letting Japanese residents fund their accounts and trade crypto on its platform.

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  • 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 exchange first said it was reopening for Japan's market in September.
  • 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 , bitcoin cash (BCH) and .
  • 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.

See also: Kraken Becomes First Crypto Exchange to Charter a US Bank

Higit pang Para sa Iyo

Robinhood misses Q4 revenue estimates as fourth-quarter results dinged by crypto slump

Robinhood logo on a screen

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.