Money Forward Financial Inc.— a Japanese public company behind the creation of a very popular personal budgeting app with about seven million users worldwide has announced plans to launch a crypto exchange. According to the report, three cryptos will be offered for trading on the exchange initially, more trading pairs and cryptos will be added as time goes on.
Money Forward Financial Inc.
The company through its spokesperson has so far made it known that the three cryptos which the exchange will be offering initially are: BTC, ETH and BCH.
Although margin trading will not be an option on the exchange during its initial stages, the trader will have the luxury of making live trades and be presented with trading charts.
According to the spokesperson,
The new crypto exchange will be “linked to their personal financial management service called Money Forward Me,” a platform with more than 7 million users already and is designed to “automatically aggregates statements of bank accounts, credit cards, securities accounts, fx accounts, pensions/points and compiles a household accounting book.”
Money Forward Inc. Launched in 2012
Since its establishment in May 2012, Money Forward Inc. has had its headquarter in Tokyo Japan. As of now, the company has more than seven offices spread across Japan. According to a recent report, the company now offers a wide selection of products ranging from “automatic savings app and a financial services portal for individuals as well as accounting, tax return, invoicing, payroll, to information management systems for businesses.”
Exchange to Launch in 2019
About the company venturing into crypto, the spokesperson has also made some comments. He stated that:
“In future years, we would like to cover money transfer and payment services.”
He continued, by saying that:
“We would hopefully like to start the exchange business between January and March 2019, though it depends on the FSA’s registration procedure.”