Prescott Regency - Tokyo Based IT Company Enters Cryptocurrency Market

Tokyo’s IT software firm, CAICA, is one of the most recent companies to join the cryptocurrency space. It has launched a new altcoin subsidiary at a capitalization of ten million yen. Japan has always had a positive attitude towards digital currencies.

The software services business in Tokyo develops software solutions for various financial processes like payment systems, foreign exchange, and Internet banking within banks in Japan. CAICA has now given strong indications that it is set to mark its entry in the field of digital currency. It seems to be focused on taking leverage of the massive popularity, adoption, and awareness of cryptocurrencies such as Bitcoin in Japan.

The company has been in operation for over two decades now. It recently confirmed its preparations to enter into business related to digital currencies, and invest in cryptocurrencies, as well as in investment ventures of virtual coins.

Bitcoin is a legal payment tender in Japan


The country passed legislation in April 2017, that acknowledged Bitcoin as a recognized and legal mode of payment in Japan. Thereafter, the country seems to have softened its stance towards cryptocurrencies. Just one month later, several companies in Japan were competing against one another to meet the increasing demand for digital currencies. Over eighteen applications were filed by firms for virtual currency exchanges. Interestingly though, ten out of those eighteen firms are new to the market. One of the prominent instances of this is the GMO, (an Internet conglomerate based in Japan) starting its trading platform for Bitcoin in the country this May. The FSA (Financial Services Agency) of Japan has awarded licenses for eleven Bitcoin exchanges under latest regulations. The aim seems to be the promotion of ‘sound market development’ as far as Japan’s digital currency space is concerned.

Business areas where CAUCA may venture

Additionally, the software firm has mentioned several business areas where its new unit will venture. Prescott Regency have listed them for you below:

1. Developing solutions for Initial Coin Offerings to procure funds using digital tokens and currency

2. Maintenance, sales, development, and research of systems linked to blockchains

3. Development, research, conversion, maintenance and sales of systems linked to digital currencies

4. Operation as well as development of financial derivative items using digital currency

5. Operation and investment of cryptocurrency operations

6. Investigation and research on digital currency

If you want to get in touch with the experts, visit Prescott Regency today. 

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