menuIcon
$ 110,787.0
BTC
$ 110,787.0
-0.07 %
$ 2,689.28
ETH
$ 2,689.28
3.06 %
$ 0.8220
ADA
$ 0.8220
4.87 %
$ 686.79
BNB
$ 686.79
0.79 %
$ 181.59
SOL
$ 181.59
3.26 %
Sandeep Kumar Mishra
Feb 27, 2023
by Sandeep Kumar Mishra

Bitflyer Founder Wants to Return As CEO to Lead It to An IPO

Bitflyer CEO IPO

Table of contents

  1. BitFlyer Founder's Aspirations of CEO and Dreams of An IPO
  2. Competition From Rivals
Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate the stagnating firm and lead it toward an IPO.

BitFlyer Founder's Aspirations of CEO and Dreams of An IPO

In 2019, Kano resigned amidst a series of management disputes at the crypto firm. However, a report on Feb. 26 stated that he now aims to revitalize the company and guide it toward an Initial Public Offering (IPO) in the near future. Additionally, Kano hopes to restore Japan's presence in the world of cryptocurrency.

In an interview, Kano revealed his plans to introduce stablecoins to the trading platform, establish a token-issuance operation, and make bitFlyer's "miyabi" blockchain available to the public. He also intends to pursue an IPO in the coming months. Despite stepping down, Kano still holds a 40% stake in the company.

During his absence as CEO, Kano observed that bitFlyer stopped innovating and launching new products and services, leading him to strive for change. He even claimed that the company had become stagnant in its output.

Competition From Rivals

As one of Japan's larger cryptocurrency exchanges with over 2.5 million accounts, bitFlyer faces stiff competition from other exchanges. For instance, Kraken recently announced the closure of its Japan business on Dec. 28, 2022, and Coinbase ceased operations in the country on Jan. 18, 2023. The firm faced management issues due to regulatory pressure from Japan's Financial Services Agency in 2018, which aimed to tighten money laundering policies.

 

Follow us on: News
Kraken bitFlyer Yuzo Kano
Bitflyer Founder Wants to Return As CEO to Lead It to An IPO
Sandeep Kumar Mishra
Sandeep is an avid cryptocurrency enthusiast and a keen & passionate blogger. He has a strong mix of skills in the areas of computer networking, cryptography, algorithms, and data structures and specializes in ERC20 tokens. Lately, he is taking a lot of interest in blockchain-powered AI solutions, about which he is also reading and writing extensively. He has to his name dozens of deeply researched articles about cryptocurrencies, blockchain, AI, and IoT. Apart from that, he loves to keep track of the latest trends in social media and digital marketing space. Also, as a huge proponent of blockchain and cryptocurrencies, Sandeep tries to deliver all the latest cryptocurrency news to ardent crypto supporters like yourselves. If you like his content, feel free to follow him on LinkedIn.

Top Picks