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Yahoo Japan to buy 40 percent stake in BitArg

It’s official: Yahoo Japan to buy 40 percent shares of BitArg

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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):

Yahoo Japan buy 40 percent stake in BitArg

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.

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