Japan or the birth of the top exchange, chaebols work together to create a charge to issue coins

Yesterday, Japan's licensed exchange DeCurret announced that it has obtained 6.7 billion yen (about 420 million yuan) of financing, which is jointly funded by parent company IIJ, Japanese communications giants KDDI and NTT, as well as Sumitomo Mitsui Bank, Mitsubishi UFJ Bank, Japan Post Bank and Comprehensive Security Company (ALSOK) and SBI Holding, the proportion of investment has not been disclosed, but the parent company has contributed 30%, that is, 2 billion yen.

At the same time, the former director of the Japanese Financial Services Agency, Toshiei Endo, serves as a special adviser, mainly responsible for platform administration and policy control. Chainde also mentioned in the previous article that it is a common practice in the Japanese financial industry to win over officials from the Financial Services Agency. For this front office long-term Fuji Toshiyo, the chain has also been reported before, please refer to the chain to get the previous article Japan Financial Services Agency: strict control of 32 digital currency exchanges that have obtained or applied for licenses, and have not issued new licenses

What is the origin of this DeCurret digital currency exchange? In the previous article, the chain also mentioned Japan's intricate network of relationships. DeCurret Exchange is currently the first platform in Japan to apply for this step beyond the new rules exchange and directly obtain a trading license. The power of capital behind it cannot be underestimated. In the most stringent time of supervision, DeCurret was able to form a team in such a short period of time, apply for photos, and directly carry out the exchange business in its entirety after only one month, which is entirely due to the old owner IIJ, which will be mentioned later.

In 2021, deCurret's targets have begun to expand by attracting investment from giants in various industries in Japan. DeCurret has joined hands with 55 local companies to start the landing of private CBDC issuance trials, benchmarking the Bank of Japan and making technical preparations before the central bank issues coins. (For details, please refer to the recent report of The Chain Dede: Bank of Japan Governor Kuroda: The main promotion of the "central bank as a service" strategy, there is no plan to issue CBDCs for the time being).

Compared with Coincheck, which has no background and only technological innovation, it was pulled off the altar for the first time after the accident, and the largest amount of 58 billion yen of the coin theft in the coin circle occurred on the Coincheck exchange platform, for the beginning and end of the event, please refer to the previous article of the chain: [Exclusive] Coincheck theft full review: three wins ending, promoting the five major butterfly effects. It also makes the Japanese and even global digital currency trading market reverse.

<h2>Building giants has failed many times</h2>

As ChainDede analyzed in the previous article, the Japanese digital coin trading industry lacks a backbone, and there is no such thing as Sun Zhengyi in the investment industry and Akio Toyoda in the automotive industry, and the entire industry is disorganized. From the Mentougou incident, the sudden fall of the Japanese world giant exchange Coincheck in 2017, to 2021, Japan's voice is getting smaller and smaller, so negligible, and the country can only brush up its sense of existence through endless meetings and seminars. During this time, the Japanese market planned three god-making movements.

The first time was to combine vertical and horizontal, gathering national forces to counter the fierce digital coin trading market. Japan's digital currency industry has been leaderless since 2017, which is obvious to all. Reluctantly, the Financial Services Agency set up the Digital Currency Trading Industry Association to build a conversational field for the digital currency trading industry and establish contacts between industries.

However, what is unexpected is that the digital coin market is difficult to predict in the panic of people, and the major platforms have their own small nine-nine. Unified for 4 years, but let everyone feel suspicious, in recent years, the members of the digital currency trading industry association, in addition to quarrels is angry and resigned news. The whole year of 2019 has been the craziest year of infighting in Japan.

The second time was to pick up the Coincheck exchange on the spot. In April 2018, it received an olive branch from Monex Group and became an exchange under Monex. Koichi Wada, who had been at odds, apparently couldn't become a leader in the digital currency industry again, so Matsumoto Dai, president of monex Group, tried to get ahead through the parent company's securities business.

However, even with the original Hotan sitting, the Financial Services Agency has not slackened on Coincheck, and has been paying close attention to compliance, and the volume of business has plummeted. Coincheck is destined to be no drama, the parent company Monex Group is also in a commotion, as long as it is more than a particularly large fluctuation, the parent company's stock will fluctuate sharply, completely constrained.

Except that the Financial Services Agency can pass legal escorts to ensure that the domestic pie is not cut away in large quantities, there is no competitiveness in the world. Policy supervision is a double-edged sword, although it has temporarily maintained market share, but it has also made the industry platform stagnant.

As predicted by the researchers in Japan, MONEY PARTNERS without actual transaction data could not convince the public, supporting the position of industry leader, and in 2020, President Okuyama Taiquan abdicated, and the new president was bitFlyer's new president, Mie Kohiro.

But the world situation has long since reversed. In the same period, Binance, Huobi, OK, etc. all tried to settle in Japan, although they were not successful, it is clear that the overall trading volume of digital currency has completely flowed into Europe, the United States, Singapore and other places.

Subsequently, new blood began to join. In September 2019, the Japanese Financial Services Agency approved the application of Line's digital currency exchange LVC (for details, please refer to [ChainDede Exclusive] Japan's licensing!). Unveiling the "three-step strategy" of the crypto payment system of the largest social platform in Japan and South Korea) https://www.chaindd.com/3207438.html. Subsequently, Lotte entered the war, Yahoo also directly participated in the war through the acquisition of TAOTAO exchange, and the Japanese digital currency trading market presented a chaotic scene of two main players fighting in the international market (Liquid and bitFlyer exchanges), and more than 10 giants supporting the fight in Japan.

The bitFlyer exchange and The Liquid exchange under Quoine were forced to go to Europe, the United States and Singapore, waiting for the good news in China.

However, there was no good news, and the original contestants were too weak to be suitable for the protagonists of the new era myth. The large trading volume is an emerging industry, without any network foundation, other industries in Japan can not be eaten at all, and the digital currency trading market to revitalize, without the banking, securities, insurance, and even the linkage of the basic technology industry, it is impossible to become a big climate.

And the exchanges that have no trading volume are all giants behind them, pulling a hair and moving the whole body, each one wants to come out, and each one can't get out. SBI's SBI digital currency exchange and GMO's GMO exchange are all holding each other back.

For the third time, the Japanese market is ready to invite the Japanese Internet originator IIJ to finalize.

DeCurret was established in January 2018 by the IIJ Group, 18 companies, including Nomura Holdings, East Japan Railway (JR East), and Sumitomo Mitsui Banking Corporation. Parent company IIJ Group owns 35% of DeCurret.

On March 25, 2019, the DeCurret exchange, a subsidiary of Japan's IIJ Group (Internet Initiative Japan), received a trading license from the Japan Financial Services Agency. From the 27th to accept customers' account registration business, the company plans to officially open the digital currency exchange business on April 16. By 2020, it has fully grasped the right to speak in the blockchain industry, and has been co-opting private financial institutions through the parent company to build a digital currency main bank, with the goal of the central bank.

IiJ may not be familiar with in China. IIJ, whose full name is Internet Initiative Japan Inc., is Japan's earliest Internet company, after its establishment in 1990, it has become an irresistible giant in the Japanese Internet industry, and it is also the second generation of Internet people in Japan. Sun Zhengyi's SoftBank, after winning the mobile Internet opportunity from the investment strategy and taking half of the IIJ, has the current Internet pattern in Japan.

Is fintech the financial leader or technology killing blood?

This issue is an unavoidable topic in the field of completely liberalized Japanese business. In recent years, the continuous sword tension is all about whether it is the giant merging technology, or the game of technology eating the giant.

Then by 2021, what can not be ignored is Line, after Sun Zhengyi intervened, after Z Holding changed its name to A Holding, the Japanese Internet industry god-making movement is also full of ammunition, and Line's blockchain, digital currency transactions, coin issuance, and online payment resources have been firmly ranked first. The brand of internet technology industry IIJ is not clear for the time being. However, with the blessing of the former director of the Financial Services Department, at least there is no trouble in government resources.

Everything is left to Japanese and overseas investors.

[This article was originally published in ChainDede, authorized by Titanium Media App, author: Han Ling]