Japan approved Bitocean Corporation as the 16th cryptocurrency exchange

Japan's Financial Services Agency (FSA) approved the operation of Bitocean Corporation. Japan's financial regulator has approved a cryptocurrency exchange as the 16th bourse in line with rising trade and pushing some local exchanges into the global market to increase volume and liquidity.

The Financial Services Agency has licensed one more cryptocurrency exchange whereby Bitocean Corporation headquartered in Tokyo to the 16th company that obtained approval to operate the bitcoin exchange service as the only crypto listed for trading on the exchange.

"We are building a new bitcoin trading platform in Tokyo while at the same time we are contributing to help with the process of liquidation and rehabilitation of Mt Gox," said Bitocean.

Bitocean was founded in 2013 in China and Japan included in the third round of approval by the FSA. The first round was in September when 11 exchanges were approved, while the second was early December when approving 4 exchanges. Meanwhile, Coincheck as the second largest bitcoin exchange in Japan has not yet been approved which is still under review.