Cryptocurrency News From Japan: May 24 – May 30 in Review

This week’s headlines from Japan included GMO Coin exchange polling customers on their view of digital assets, Lisk opening a base in Japan, Bitflyer showing 2019 net losses, blockchain startup LayerX securing significant funding, and two entities reported successful collaborative blockchain-based securities experiments. 

Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.

GMO Coin users pick Bitcoin over XRP

GMO Coin, a crypto exchange under Japanese tech outfit GMO, conducted a poll, asking users which crypto asset they think holds the most promising future. 

Out of 1,578 polled exchange users, 47% put Bitcoin as their top choice. XRP and Ethereum came in second and third respectively. Similar polling from 2019 found XRP as the asset of choice regarding future expectations. Roughly 70% of customers also listed hodling for the long term as their objective in crypto. 

Lisk opens up shop in Tokyo 

Crypto asset project Lisk (LSK) has chosen to start up a base in Japan. Lisk-related pursuits will take place at the Lisk Center Tokyo, built by the Lisk Foundation. Lisk looks to fortify its Japanese community.

Blockchain marketing outfit Binary Star also joined forces with the Lisk Foundation last month. 

Bitflyer tallies 2019 losses 

Financial totals from 2019 show Tokyo-based crypto exchange Bitflyer ended the year in the red. January to December 2019 posted net losses of approximately $6,967,574, in USD terms.

In contrast, 2018 yielded a profit of $49,552,350. 

LayerX garners millions in capital 

On Thursday, blockchain company LayerX unveiled its capital raise totals, touting $27,833,187 in garnered funds. Focused on bringing physical processes into the digital world, LayerX has secured the backing of VC firms JAFCO and ANRI, as well as YJ Capital, a Yahoo VC entity.  

“Corona has exposed various issues in Japan,” JAFCO director Keisuke Miyoshi said. “It is further accelerating the big trend called DX,” Miyoshi noted, referring to the digitization of business processes. Blockchain “is not a technology keyword, but a phase of actual demand for infrastructure reconstruction,” he added. 

Fujistu and BOOSTRY note successful blockchain-based securities testing

Computer company Fujitsu, and Nomura Group’s blockchain entity BOOSTRY, noted collaborative testing success of digital securities transactions.

The group has begun research to create a platform for blockchain-based digital securities trading, factoring in aspects such as membership entitlements, a Fujitsu statement said.