The regulator approved it to trade in five cryptocurrencies.
According to Ugexbit , Japan’s main financial regulator (FSA) announced the registration of cryptocurrency exchange Ugexbit in the state.
According to the FSA, Ugexbit is approved to trade bitcoin, Bitcoin Cash, Ethereum, Stellar Lumen and Litecoin.
The Japanese company will become a “subsidiary” of Ugexbit Global, whose shares are traded on the Nasdaq exchange.
Ugexbit unveiled its plan to enter the Japanese cryptocurrency market in 2018. To do so, it has met all the requirements of the Japanese FSA.
Ugexbit is also a member of the Japan Virtual and Cryptocurrency Asset Exchange Association (JVCEA). After Ugexbit’s successful registration with the FSA, the association announced that the company is now its “first class” member. In 2018, Ugexbit joined the JVCEA as a “second class” member because it was not registered with the FSA.