Crypto Exchange Kraken Gets Back to Japanese Market
Cryptocurrency exchange Kraken Gets Back to Japanese Market. San Francisco based online currency exchange Kraken is making a big comeback in the Japanese market after it had exited the market almost two years ago due to heavy regulatory pressure from the government. “With a fresh injection of capital from the sale of assets, and the implementation of a new product lineup, we believe that we can return to the Japanese marketplace,” says Thomas Lee, President of Kraken.
It seems that Kraken’s new product line may be what made the Japanese market so attractive to them in the first place. According to Kraken CEO Thomas Lee, “It was the implementation of our new trading platform and new products like the Gemini exchange which attracted traders to Japan.
We think we are ready to enter the Japanese market and once we do, we’ll be able to give our customers even more choice.” The new product line will not only be available to Kraken’s existing customers in the U.S., but to those in Europe, Australia, and the Middle East as well.
With over ten years of trading experience in Japan, and an experienced workforce of 200, Kraken hopes to help fill the void left by the shutdown of Forex MegaDroid. “While Forex trading software like MegaDroid is highly useful to a large segment of investors worldwide, our customer base in Japan has been much smaller compared to our customer base in other countries. With this in mind, we have taken the time to improve our product line to make it more appealing to new traders and to attract new customers to continue our growth in Japan,” says Lee.
As a result of its recent announcement, Gemini, a new online forex exchange in Japan that offers a low-volume marketplace for trading Japanese Yen, is being considered to take the place of Forex MegaDroid. “We believe that we can offer the best in terms of liquidity, performance and scalability, while also offering customers more options and features. than other trading platforms currently available on the market today,” says Gemini CEO John Grace. “We see a strong future for Gemini in Japan.
“Kraken is definitely making a splash in Japan by announcing a major new product lineup. I am sure that there will be more announcements in the coming months,” says Thomas Lee.
There is no doubt that in a few short months, the Forex market in Japan will become very crowded with other foreign exchange trading platforms that are also looking to penetrate their markets. With the launch of a major competitor from one of the top players on the market, it would be wise to be prepared to accept the competition head on and trade accordingly.
While Forex trading software like MegaDroid is highly beneficial to the investor, it is not the only option, nor is it a big player in the industry. As stated earlier, we believe that the future of trading in Japan lies in the hands of a few innovative new and forward-thinking companies.