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Yahoo buys stake in cryptocurrency exchange

16 april 2018, 13:56


Yahoo should be known to most of Internet users, especially the ones interested in the history of web, as it is one of pioneers of the early Internet era. Before Google became leading search engine, Yahoo offered its web portal with a search engine and multiple different services like mail, news, finance, advertising or even video sharing. According to web analytics services and sites like Alexa and SimilarWeb, Yahoo! was the highest-read news and media website, with over 7 billion views per month. They were also the sixth most visited website in 2016.

Yahoo buys stake in cryptocurrency exchange

It is important to recognize the size of this company, as their public contribution to the blockchain and cryptocurrency scene may be a very good sign.

Investment in cryptocurrency exchange

Japanese branch of the company has confirmed that Z Corporation, which is a subsidiary owned by Yahoo Japan, have purchased a minority stake in a cryptocurrency exchange. They have acquired a 40 percent stake in BitArg Exchange Tokyo, which is valued at around $20 million. The exchange is only starting and will launch in the Q4 of 2018. CoinDesk provided a translation of official statement.

"By utilizing the service operation and security expertise of the Yahoo group, we support the operation of exchanges operated by BitArgo Exchange Tokyo" They also want to provide services, which are "easy to use and safe".

This may seem like a small and not important thing, however this shows that bigger companies are slowly recognizing the possibilities, which come with the development of cryptocurrency scene. Exchanges are able to generate millions of dollars and it is only the beginning of much bigger journey.

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