RedotPay acquires the Japanese cryptocurrency exchange BTCBOX

According to market news, the cryptocurrency payment service provider RedotPay announced in a recent official announcement that it has acquired the Japanese cryptocurrency exchange BTCBOX, and will subsequently provide services compliant with Japanese regulations through BTCBOX. RedotPay does not have a license for cryptocurrency trading operators in Japan. The announcement acknowledged that its existing services aimed at Japanese residents do not meet local regulatory requirements and will be phased out and ultimately terminated.

RedotPay has suspended new user registrations in Japan and has removed its app from the Japanese Apple and Google app stores. BTCBOX was established in 2014 and obtained its trading operator registration in September 2017. After a customer information leak occurred in January this year, BTCBOX suspended all services and began a phased recovery on August 3. RedotPay stated that it will provide funding and technical support for it.