Payward Asia, Is Now A Crypto Asset Exchange Service Provider in Japan

ASIA BLOCKCHAIN REVIEW

September 15, 2020

Payward Asia, Inc. (Headquarters: Chiyoda-Ku Tokyo, Representative Director: Takeshi Chino, hereinafter “Company”) is pleased to announce that on September 8 2020, the company completed its registration as a Crypto Asset Exchange Service Provider under the Payment Services Act.

Payward Asia is a Japanese entity of Kraken, a pioneer of the digital assets industry and consistently rated the most secure digital asset exchange. Since its establishment in September 2018, Company has been building up internal governance and controls in accordance with local regulations. This includes the Payment Services Act as well as the relevant orders and the self-regulatory rules of Japan Virtual and Crypto Assets Exchange Association.

Japan has pioneered a comprehensive regulatory framework, including the client asset protection rule. Japan has also been at the forefront of necessary and proactive discussions regarding how to foster innovative blockchain technology such as crypto assets.

The process was spearheaded by multiple stakeholders such as regulators, service providers, professionals and academics. While we discontinued our business in Japan in 2018, Kraken continued preparing for restarting the business. Kraken feels 2020 is the best year to restart the business in Japan because of the healthy market environment among other reasons.

With the registration as a Crypto Asset Exchange Service Provider, Payward Asia is now able to provide Kraken’s advanced services, backed by its strong security reputation.

At launch, our product lineup will include spot trades (both crypto-crypto and jpy-crypto) for five major assets – Bitcoin (XBT), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH) and Litecoin (LTC). We will strive to add other assets and services supported by Kraken outside Japan to the product offering as soon as possible. The service launch is now planned around the middle of September. More details will be announced once the schedule is finalized.

Payward Japan
< Notes for those who used to use Kraken services (abolished) through Payward Japan K.K.>

  • Our clients who are Japanese residents will need to open an account with Company (Payward Asia, Inc.) to start using services in Japan.
  • Those who used to use Kraken services through Payward Japan K.K.[1] also need to take the same account opening process (there will be no account transfer function provided as the services are different from the past). We apologize for the inconvenience.

Details of the registration as a Crypto Asset Exchange Provider

Registration Number: Director-General of the Kanto Finance Bureaus  #00022
Date of Registration: September 8, 2020
Registration Name: Payward Asia, Inc.
Address: 9-3 Nibancho, Chiyoda-Ku, Tokyo
Crypto Assets to be handled: Bitcoin (XBT), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC)

Details of the company

Name: Payward Asia, Inc.
Address: 9-3 Nibancho, Chiyoda-Ku, Tokyo
Representative Director: Takeshi Chino
Date of Establishment: September 13, 2018
Capital: 738,917,909 yen (including capital reserve)
URL:http://blog.kraken.com/japan

About Kraken

Based in San Francisco, Kraken is the world’s largest global digital asset exchange based on euro volume and liquidity. Kraken’s clients trade more than 30 digital assets and 7 different fiat currencies, including EUR, USD, CAD, GBP, JPY, CHF and AUD.

Founded in 2011, Kraken was the first digital asset exchange to have its market data displayed on the Bloomberg Terminal, the first to pass a cryptographically verifiable proof-of-reserves audit and one of the first exchanges to offer leveraged bitcoin margin trading.

Kraken is trusted by more than 4 million traders, institutions and authorities around the world. For more information about Kraken, please visit http://www.kraken.com.

Source: Kraken

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