The Japanese loans provider MBK says it has bought over $2 million worth of Bitcoin (BTC) and struck a partnership deal with a domestic crypto exchange.
The new deal will see MBK work with FINX JCrypto, which owns the Coin Estate exchange. The latter provides crypto settlement services for real estate purchases.
It said the company’s board of directors had signed off on the purchase before it snapped up approximately BTC 17.6, paying a price of around 17 million yen ($115,529) per Bitcoin. Like many other Japanese firms that have bought BTC in recent months, MBK said it was investing in Bitcoin “as a way to protect its assets against the prolonged depreciation of the yen and inflationary forces.”
In an official MBK press release, the company said that it had acquired 300 million yen ($2,037,836) worth of Bitcoin using its balance sheet.
MBK said it will leverage FINX JCrypto’s expertise in real estate transactions and crypto-powered settlements to “enhance the reliability and safety” of its own Bitcoin-powered property settlement services.
He also noted that the decision’s timing aligns with significant political events, such as Trump’s pro-crypto stance and bipartisan support for crypto-friendly legislation.
