Japan’s Forside Crypto Mining Expands, Fasteps Exchange Launch & Line Token Fund News
Japanese Companies Outline Cryptocurrency Plans
Three public firms based in Japan have declared their plans regarding the trading of digital currencies. Notably, each of the three institutions (Forside, Farsteps and Line Corp) is either adding a new service to its portfolio or expanding its area of operation. The following is a detailed overview of the announcement made by the enterprises mentioned above.
Forside Introduces Cryptocurrency Mining Operation
Last week, Forside Co. Ltd, a company that is listed on the Tokyo Stock Exchange, declared its intentions to venture into the crypto mining business. The firm, which usually deals with real estate development, announced that its subsidiary, Forside Financial services Co. Ltd had acquired mining hardware from Lucky Cue Co. Ltd. Forside will rebrand the mining GPUs and resell them under their proprietary brand name, known as FFSM.
As of now, the company has already initiated mining activities at its facility in Canada. As per Forside, the sale of the mining hardware will contribute enormously to the development of the cryptocurrency mining venture. Moreover, the company disclosed that Forside Financial Services will soon deploy semiconductor mining chips running on the cutting-edge 7nm technological framework, as well as sell next-gen mining hardware equipped with 7nm chips.
Farsteps to Establish an Exchange Platform in Singapore
Similar to Forside, Farsteps is listed on the Tokyo Stock Exchange, albeit as a media and cost management enterprise. The company recently announced that it will soon launch a digital asset trading platform in Singapore. In June, the company introduced an exchange platform in Hong Kong, known as Bitone. The platform presently offers three trading markets involving Bitcoin, Ethereum and the US dollar.
Line Corp to Launch Token Fund and Crypto Pricing on Clova AI Assistant
Through its subsidiary, the unblock corporation, Line Corp announced the creation of a corporate token fund based in Hong Kong called unblock ventures ltd. The venture fund has a capital commitment worth $10 million and its primary objective is to promote the development and mass adoption of blockchain and virtual currencies. In addition, the company which operates Japan's most popular messaging app has integrated cryptocurrency pricing to its Clova digital assistant for both iOS and Android operating systems.
Additionally, Line chat app users will have free access to consultancy services provided by Bitcoin no Madoguchi, a blockchain advisor based in Tokyo. To enjoy this services, users are required to add the company as a friend. Typically, the turnaround time for queries ranges from 30 minutes to 7 hours.