Today the Japan Exchange Group (JPX) announced it invested 360 million yen ($3 million) in Digital Asset Markets (DAMS), giving it a 23.7% stake. The startup has been registered as a crypto-asset exchange in Japan for a year. It is currently the sole sales outlet for Zipangcoin, a gold-backed digital asset issued by Mitsui & Co Digital Commodities that launched earlier this month.
The founder and largest DAMS shareholder is Intertrade, which provides trading systems for JPX’s Tokyo Stock Exchange. Mitsui & Co is also an investor in DAMS.
The founders of Intertrade previously stated, “The pros and cons of virtual currencies notwithstanding, INTERTRADE believes blockchain technology will change the way the world works much as the internet did, and that a new era is approaching when we will see a steady stream of new services being launched based on blockchain technology.” Hence it decided to be at the forefront of that movement by setting up DAMS.
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