Report: Japan’s top brokers lift earnings thanks to proprietary Bitcoin exchanges

Three leading online brokers in Japan—SBI, Rakuten, and Monex—are competing with cryptocurrency exchanges for a share of the digital-asset market, according to a new Messari report.

Your definitive guide to Asia’s crypto landscape, by @asiahodl

This 99 page masterpiece will give you a better understanding of one of crypto’s most critical yet often under-studied regions.

Sponsored by @_blockdaemon https://t.co/qYfRNBQH1y

— Messari (@MessariCrypto) January 20, 2021

According to researchers, the operating revenue and [simple_tooltip content=’разница между активами и обязательствами компании’]net assets[/simple_tooltip] of exchange platforms operated by Japan’s leading brokers are rapidly catching up with their crypto rivals.

Data: Messari, August 2020.

The largest Japanese exchange is bitFlyer, with custody assets exceeding $1 billion and net assets of $146 million as of August 2020. The Liquid exchange ranked among the ten cryptocurrency unicorns by the end of 2019.

ForkLog previously reported that, according to Messari, Asia accounts for 43% of global cryptocurrency transactions, 70% of Bitcoin’s hashrate and six of ten “unicorns”.

Follow ForkLog News on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news and polls.