Exclusive Interview with Arisa Toyosaki: Behind the World’s No.1 DeFi Service "Cega Finance"

With a cumulative trading volume of over 50 billion yen, Arisa Toyosaki is one of the globally active Japanese Web 3.0 entrepreneurs who created "Cega Finance," a company that is driving the DeFi derivatives market. We will take a closer look at her roots, Japan from a global perspective, and her vision for the future of DeFi and Web 3.0.

The "roots" of Toyosaki, the creator of the world's No. 1 DeFi service

TOKEN2049 is one of the largest cryptocurrency conferences in Asia. It is held in Singapore every September and is a big event that brings together crypto-related people from all over the world. On the stage, there was a Japanese person giving a presentation in fluent English. Her name is Arisa Toyosaki. She is an expert in decentralized finance and a pioneer of DeFi derivatives.

Her roots as an entrepreneur active on the world stage from Japan. We spoke to Arisa Toyosaki, focusing on her personal activities and the development of CEGA.

Instead of thinking in terms of failure, you should try everything you want to try while you're in your 20s and 30s.

Nagatomo Hiroki (hereafter, Nagatomo): Did you think about becoming an entrepreneur from a young age?

Toyosaki Arisa (hereafter, Toyosaki): I didn't have any particular dreams when I was a child, but I was the type of person who wanted to try everything that interested me. In terms of starting a business, my parents had a big influence on me. Both of them were entrepreneurs who had built businesses from scratch and sold them, so I feel like I was naturally led to the path of an entrepreneur.

Nagatomo: Was CEGA your first business?

Toyosaki: No, actually, I started a graphic design company when I was in college and sold it for a small amount of money. When I was working at Google, I ran eyelash extensions and eyebrow waxing salon as a side job.

Nagatomo: I'm amazed at your initiative (laughs). You are currently active globally, right? What differences do you feel when comparing overseas with Japan?

Toyosaki: In Japan, the standard of living is high and the happiness of the middle class is high, so I feel that there is a lack of motivation as a Japanese person and a hungry spirit to go overseas and succeed.

As for how to proceed with work, Japan is culturally a village society, so in many cases, decisions cannot be made without a consensus from the people around you, not top-down. Compared to other countries where decision-making is fast, it takes time to do even small things, which is inefficient and a great waste.

Nagatomo: Your career is really a brilliant one, but what was the thinking behind your decision to give it up to start a company?

Toyosaki: First of all, the idea of ​​giving up your career is wrong. The expression "letting go of your career" includes the assumption that you will never come back. If you have acquired a skill set and have improved your abilities and growth, I think you can always return to a major company.

One of my bosses from my time at Google had a career in which he left Google twice, tried to start a startup, and then returned. The idea of ​​lifetime employment is deeply rooted in Japan, but I believe that a career is flexible and not linear.

If you think based on failure, you will inevitably become conservative in your approach, so I think that you should have the mindset of "maybe I'll have a chance," and try everything you want to do, especially while you're in your 20s and 30s.

Nagatomo: Toyosaki, you also support young people in starting their own businesses. What do you tell young people who want to start their own businesses?

Toyosaki: What I often tell people who want to start a business is that you shouldn't start a business just because you want to be an entrepreneur. Starting a business is not an end in itself, it is merely a means to an end. The right time is when there is an interesting opportunity in the market or when you have an idea for a good product. I tell them that if they have an interesting idea or a business opportunity, they should start a business right away.

When I saw the market movements when DeFi took off in 2020, I thought, "I can be successful in this field."

Nagatomo: What was your idea for starting a business?

Toyosaki: In my case, my skill set was the niche and specialized field of derivatives that I had cultivated at UBS Securities, and the branding and marketing strategies that I had learned at Google, so I was conscious of what could be created by combining those two.

I prefer to think about business strategies and start projects from scratch, so when I saw the market movements when DeFi made a big leap in 2020, I thought I could be successful in this field. I don't think it's a good option to start a business without an idea.

Nagatomo: Please tell us the story of the first time you came into contact with crypto assets.

Toyosaki: It goes back to my university days. I was majoring in computer science, so I learned about Bitcoin in school classes. In 2013, it was about $20 per BTC. Since I was a student, I didn't buy a lot, but I remember being shocked by the technology.

Nagatomo: You are currently based in Singapore. Why did you choose Singapore? Toyosaki: When I thought about what I wanted to do with CEGA, I had to choose between Singapore and Dubai. I was originally living in Hong Kong, so I was familiar with the financial situation in Asia, but Singapore has good policies and DeFi projects are gathering from all over the world, so the fact that I could feel the speed of business firsthand was a big deciding factor. The other reason was that the food is delicious (laughs).

"Individual Activities" with an Eye on Japan's Future

Nagatomo: What kind of activities do you personally do, Toyosaki?

Toyosaki: Personally, I give lectures on decentralized finance technology at universities and companies to raise awareness.

I also serve as a director of the Japan Blockchain Association (JBA). DeFi is a new technology historically, so society has not yet caught up with its understanding. Through JBA, which has a pipeline to major Japanese institutions, I work to let the government and large companies know about the greatness of this technology. I also bring information about overseas projects to young Japanese people through JBA subcommittees and support entrepreneurs who are trying to go overseas from Japan.

From the perspective of promoting entrepreneurship, I also make angel investments in Web 3.0 projects.