Japan is home to some of the most lucrative cryptocurrency exchanges in the world. Their personal financial management startup, Money Forward Inc, has recently decided to create their own platform for crypto trading and exchanges, which will be active by the end of 2018.
First, A Media Platform
The CEO and founder of Money Forward, Yosuke Tsuji, originally announced it on the official website for the brand. In his statement, he said that the new creation would be a subsidiary called Money Forward Financial Co. Ltd, which would pioneer their innovative and inclusive launch.
The first step to this plan is to have a media platform for the crypto transactions, which keeps customers updated in the latest information in digital currency. The platform will also include price comparisons that include both domestic and international exchanges. President Junichi Kanda will run this part of the crypto involvement, though it is going to be the segue that lets the company grow.
In a statement, the president of this department discussed the need to create a secure interface that works on both the website and the mobile app. This interface will “display transaction history and asset status in an easy-to-understand manner.”
Along with this launch, Money Forward Financial will be opening the range of services that a cryptocurrency platform would support, like an account book that has 20 different exchanges. There will also be a tool that helps consumers account for losses and profits when they file taxes each year, but these are just add-on features of the basic platform.
Already A Successful Startup In Japan
Money Forward hasn’t always been the widespread success that it is now. The company had humble beginnings in a small apartment in Takadanobaba about 5 years ago. However, the innovations of the creator soon expanded it enough to hire 230 staff members, of which over 90 members are engineers or have engineering experience. Additionally, the IPO on the Tokyo Stock Exchange raised over $27 million in revenue alone. With a company that is valued at about $500 million, it’s no surprise that the creator is highly sought after.
Over 5.5 million registered users already contribute on the platform, and they will reap benefits from being loyal followers of the brand. However, new customers will also benefit from the services as the company continues to expand.
On that note, Tsuji has said:
“Money issues, including payment methods, are different depending on the country, so it’s not a matter of simply translating our service into English; we need to think of how we can adapt to each country.”