Yahoo Japan has purchased a 40% shareholding in cryptocurrency exchange Bitarg through its Z Corporation subsidiary for up to $28m.
Japan-based cryptocurrency exchange Bitarg Exchange Tokyo has received an undisclosed amount of funding from internet company Yahoo Japan’s wholly-owned subsidiary Z Corporation in return for a 40% stake.
Financial terms of the deal have not been officially confirmed, but Reuters cited an unnamed source that placed the size of the transaction at ¥2bn to ¥3bn ($18m to $28m). Bitarg’s parent company, CMD Lab, will retain the remaining 60%.
Z Corporation was set up by Yahoo Japan to invest in companies…
