The company even offers electricity provision with bills that can be paid in Bitcoin, which is very off-topic from its principal services because it is offered in partnership with some of the most important power providers in Japan. Coincheck users have the opportunity to earn up to 5% interest on their deposits by lending the platform bitcoin funds. Another option is a ‘loan’ arrangement, which functions very similarly to a savings account at a traditional bank. It has been reported that the capital reserves amount to 92 million.Ĭoincheck is a cryptocurrency exchange that also provides merchants with a payment mechanism that enables them to accept cryptocurrency payments and have those funds automatically converted into the currency of their choice. In addition to that, it is a member of the General FinTech Association as well as the Japan Virtual Currency Business Operator Association. The Japan Blockchain Association has verified the legitimacy of the exchange and issued it with a license to trade in digital currencies there. Coincheck is nominally a Japanese exchange yet, it may be accessed anywhere around the world. Wada is currently acting as CEO, while Otsuka is currently serving as COO, and both founders continue to be active directors. Coincheck was established in 2012 by Keisuke Wada and Yusuke Otsuka, whereas the cryptocurrency exchange itself didn’t start doing business until 2014. The Android and iOS apps offered by Coincheck are used by a greater number of individuals than those offered by any other Asian cryptocurrency exchange. The amount of Bitcoin transactions on Coincheck in 2017 was the highest of any exchange in Japan, making it one of the major cryptocurrency exchanges in Asia.
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