QUOINE Corporation, the Singapore-based company which operates bitcoin exchanges in Asia today reported that they received the official license from the Japan Financial Services Agency (JFSA) for operating QUOINEX, a cryptocurrency exchange and bitcoin platform that was started up in May 2014.
Led by CEO Mike Kayamori, at its core, QUOINE is focused on stringent security measures on QUOINEX and prioritizes the safety of customers’ assets. The company is registered in Singapore but does tons of bitcoin trading in Japanese yen-denominated accounts. As part of the licensing process, the company will maintain an office in Tokyo alongside its other locations in Singapore and Vietnam.
Since Japan’s amended Payment Services Act came into effect on April 1st, 2017, QUOINE has worked closely with the Big Four audit and accounting companies, developing comprehensive AML countermeasures, internal audit, management systems, as well as communicating with the JFSA and Kanto Financial Bureau.
In addition, QUOINE has also received a comprehensive review from one of the Big Four companies as part of the licensing process.
Mike Kayamori, CEO, and Co-founder of QUOINE said:
“As the first global crypto fintech company to be fully licensed with the JFSA, we will keep on working hand in hand with regulators and other stakeholders towards the healthy development of the cryptocurrency industry within Japan and on a global scale.”
“Protection of customers’ assets is of the highest priority to us. With our JFSA license, this is a positive market signal that we are here to build a trusted exchange, with proper compliance measures in place to prevent security breaches and provide more asset protection for our customers.”
These are exciting times for the company with a lot of development, a few months ago QUOINE opened up a crypto to crypto only exchange called QRYPTOS, which has slowly but steadily increased their token listings.
QUOINE is in as good a position as any bitcoin and blockchain technology company operating in Asia. With the firm’s global office in Singapore and having a focus on other markets besides China, they have a solid user base within the region with a building brand.