Japanese Exchange Eying Russian Market Bitcoin
A major Japanese bitcoin exchange is looking to enter the Russian cryptocurrency market and is seeking a local partner. The exchange’s CEO says “demand is huge” and urges Russia to look at Japan as a model for cryptocurrency regulations
Quoine, which operates the cryptocurrency exchange Quoinex, is looking to enter the Russian crypto market, CEO Mike Kayamori told Russian news outlet Ria Novosti in an interview at the company’s headquarters in Tokyo this week. The exchange currently supports BTC, BCH, and ETH. At the end of September this year, the company became one of the first of eleven in Japan to receive approval by the Financial Services Agency (FSA).
“The volume of our transactions last month amounted to 7-8 billion dollars in one month,” Kayamori revealed, adding that his exchange is actively looking for opportunities in Russia. He said:
Currently, “we do not work in Russia because we do not know how regulation there is. All the unknowns are a risk,” he added. “Therefore we would like to cooperate with any Russian progressive company that would be interested in cryptocurrency.”
The exchange has been actively expanding its operations of late. According to the CEO, the company is in talks with a number of foreign exchanges and financial institutions in countries such as the Philippines, South Korea, and China. Recently, Quoine partnered with fintech startup Blockwave to start cryptocurrency operations in Canada.