It’s official: Yahoo Japan to buy 40 percent shares of BitArg
In March, news erupted that Yahoo Japan was buying a stake in the Japanese cryptocurrency exchange BitArg, but those rumors were squashed by BitArg hours later.
At the time, BitArg said it was exploring “possibilities, including capital and business tie-ups with other companies.” Flash forward to the present and those possibilities have now become a reality.
From BitArg’s website (translated via Google translate):
By accepting Yahoo Japan’s proposal, BitArg will now be able to use the security expertise and service operations that Yahoo Japan — the country’s biggest online auction site — offers. While the details of how much the investment was haven’t been made public, Reuters reports that the deal is likely for 2 billion to 3 billion yen, or about $18.6 million to $27.9 million.
The companies aim to launch the services sometime in the fall.