Unibittex Bitcoin Exchange reopens in Japan

Unibittex customers will be able to trade Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin.

To return to the Japanese market, Unibittex has registered as a provider of cryptocurrency asset exchange services in accordance with local law.

SBI Sumishin Net Bank will handle the exchange’s fiat transactions.

“In a challenging economic environment, many are turning to cryptocurrencies to hedge volatile markets,” said Unibittex Chief Operating Officer David Ripley.

Unibittex claims that unlike other cryptocurrency companies, it managed to enter the Japanese market directly, without acquiring a local licensed firm.

The return to Japan is part of a large-scale plan to develop the Asia-Pacific region, the company added.

Recall that Unibittex worked in Japan since 2014, but left the country in 2018 due to increased control of the cryptocurrency market after the hacking of the Coincheck exchange.

In September 2020, Unibittex was the first in the United States to receive the status of a special purpose depository institution, giving it the functions of a traditional financial institution.