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Money Forward Financial announces postponement of entry into cryptocurrency related business

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マネーフォワードフィナンシャルが仮想通貨関連事業への参入延期を発表

Arata

Arata

Started investing in cryptocurrency in May 2017. To be attracted to the future of blockchains and virtual currencies, and to actively send information through the blog of the cryptocurrency enthusiast IT Lehman who works in Shibuya. Participate in ICO for the first time in June 2017, and be fascinated by the attractiveness of ICO, and actively invest in ICO. One of the Crypto Times operators. My favorite food is ramen and tamari.

On April 15, 2019, Money Forward Financial Co., Ltd., a wholly owned subsidiary of Money Forward, Inc., announced that it has suspended registration procedures for its cryptocurrency exchange business and will postpone entry into the business.

In May 2018, we announced the entry into the blockchain and cryptocurrency business, and in September 2018 we started “Onbit” which is a blockchain / cryptocurrency media.

The following four items have been decided upon in the announcement of the postponement of entry into the cryptocurrency related business this time.

1. Postponement of entry into cryptocurrency related business and cancellation of procedures for registration of exchange traders
2. Stop system development for exchanges and exchanges
3. End of media service “Onbit” related to blockchain and cryptocurrency (scheduled for May 31, 2019)
4. Continued research aimed at developing blockchain technology

In the announcement, the cryptocurrency market is rapidly cooling down, the downside risk in the profitability of the business has risen, and the cost of developing the system has risen as the deciding factor.

Article Source: Money Forward Press Release

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Author: Arata-Source Post: https://crypto-times.jp/moneyfoward-delay/

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