[NEWS] Kushim acquires Kaika Exchange and plans to merge with Zaif

Qsym, which owns Web 3.0 technology company Turingham and is engaged in blockchain development, announced on the 22nd that it will acquire shares in Kaika Exchange, which owns the cryptocurrency exchange Zaif, and merge them.

If this merger is implemented, Kaika Exchange, which operates Zaif, and Kaika Capital, which also invests in cryptocurrency, will also become consolidated subsidiaries.

Based on its vision of being a "blockchain service company," Qsym will focus its management resources on businesses that will generate synergy effects by selecting and concentrating on its businesses, and will work to improve its corporate value in three business segments: "blockchain services," "system engineering," and "incubation."

In Qsym's blockchain service business, Qsym acquired Turingham, a Web 3.0 startup company that realizes business planning and R&D using blockchain and cryptography, and tokennomics design and development, as a subsidiary in March last year.

Turingham received financial and management support from Qsym, creating synergy effects. It has won contracts for multiple token issuance projects. They also have a track record of supporting IEOs at cryptocurrency exchanges both in Japan and overseas.

Zaif began operations in April 2014 and is known as one of the oldest cryptocurrency exchanges in Japan. It has 360,000 user accounts, 64 billion yen in assets under custody, and handles more than 20 types of cryptocurrency.

The background to this business integration is that the revised Payment Services Act, which came into effect in June, has led to the development of an environment for Web 3.0 business, and large companies such as NTT, KDDI, Mitsubishi UFJ Trust and Banking Corporation, Square Enix, and Sega are entering the Web 3.0 field.

In the future, Tulingam will be responsible for token planning and issuance, while Zaif will be responsible for listing screening, etc. The Kushim Group will be able to realize the tokenomics value chain, which is considered the foundation of Web 3.0 business, in one stop.

It is expected that the system will improve profitability by reducing costs, increase Bitcoin (BTC) trading volume, expand Ethereum (ETH) services, activate deposited funds, improve APIs and organize documentation, and attract new users and increase active users through UI improvements, as well as expand total trading volume by acquiring bot users.

Reference:Announcement
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