According to Messari’s research, the three largest online brokers in Japan generate increased revenue from cryptocurrency exchange services.
In the Asian Crypto Landscape report, Messari stated that the operating income operated by Japan’s top securities brokers is fast catching up with the revenues of the net crypto exchange platforms.
Messari researcher Mira Christanto stated that Japan’s three largest brokers – SBI, Rakuten and Monex – all operate crypto exchange platforms by customer deposits.
Christanto also stated that many major asset managers have lobbied to allow Japanese lawmakers to offer extended cryptocurrency services and products such as custody solutions and exchange-traded funds.
The report praises the Financial Services Agency or FSA, Japan’s largest financial regulator, for supporting inclusive crypto regulations for many years, making the island nation a regional hub for the digital asset industry.