Amber Group, a leading global digital asset platform, today announced the acquisition of DeCurret Inc. (DeCurret), the crypto asset exchange subsidiary of DeCurret Holdings, Inc., by Amber Group subsidiary WhaleFin Holdings Japan K.K (WhaleFin Japan). The transaction marks Amber Group’s entry into Japan, having acquired a Crypto-Asset Exchange Service Provider (CAESP) registered with Japan Financial Services Agency (FSA).
As one of the 30 registered CAESPs operating in Japan since 2018, DeCurret is a leading crypto exchange in the market. Backed by 35 shareholders including leading Japanese financial institutions and corporations, DeCurret pioneered the introduction of an electronic money charge service for crypto-assets, and led the industry in making cryptocurrency more accessible to consumers.
The acquisition capitalizes the synergies between Amber Group and Decurret, marrying Amber Group’s user-first digital asset investing tools under WhaleFin, and DeCurret’s crypto exchange offering and its extensive in-market reach to unlock Japan’s crypto market potential. Furthermore, Amber Group’s management of $5 billion worth of digital assets on its platform will catalyze the adoption of digital assets in Japan, which recorded a seven-fold growth in crypto deposits in 2021[1].
"Japan holds tremendous strategic value as a significant crypto finance market, and we are proud to be integrating the best of both WhaleFin and DeCurret as we expand our presence in the country. As a leading crypto exchange with deep roots in Japan, DeCurret has not only market expertise and strong backing from major industry heavyweights but its user-first functionalities lend itself well to WhaleFin’s offering and its ethos in democratizing crypto finance for everyone. This acquisition lays the foundation for us to continue building user confidence in crypto assets through ease and accessibility, marking a new chapter for crypto finance in Japan,” said Amber Group's Global Chief Executive Officer, Michael Wu.
“We are very pleased to have Amber Group, one of the fastest-growing global crypto asset companies, take over the DeCurret initiative. We sincerely wish them success in the Japanese market and the continued growth of the Amber Group,” said President and CEO of DeCurret Holdings, Inc., Kazuhiro Tokita.
Amid an evolving crypto asset regulatory landscape in Japan, the acquisition provided Amber Group with an opportunity to operate a registered CAESP. DeCurret’s registration status allows Amber Group and its subsidiary, WhaleFin Japan, to introduce regulated crypto exchange and custody services that are in compliance with Japan’s financial market regulations.
“We are honoured to add a subsidiary in Japan that is registered with FSA, and this is a landmark moment for Amber Group as we make inroads into the thriving Japanese market. Regulatory compliance is critical to cement the reputation of crypto assets as a credible and trusted asset class globally. As we expand our global footprint and drive crypto asset innovation across the international financial ecosystem, we are committed to upholding the highest regulatory compliance standards, and to meeting the standards and trust expected of an FSA-approved institution,” added Wu.
[1] Forkast News: Japan sees record crypto deposits, nearly 7 times more than last year. https://forkast.news/japan-crypto-deposits-jvcea-exchange-association/; Last accessed: 19 January 2022.
