The operator of the popular application for personal finance management Money Forward Inc intends to launch a crypto-exchange market this year.
As the newspaper notes, the Japanese fintech-company has been working in this direction since December last year. To implement the plans, the company has already registered a subsidiary division called Money Forward Financial.
In the summer Money Forward Financial is going to launch a media crypto platform, and afterwards – a digital assets exchange. In the future, the company plans to create a number of more advanced solutions for working with crypto-currencies, including automated payment systems and various analytical tools.
Currently, the customer base of the company has about 5 million users. The cloud application of Money Forward Inc for tax accounting and financial management is used by 500,000 Japanese companies and 2,400 accounting firms.
Recall last week the largest Japanese bank MUFG announced plans to launch its own crypto currency in early 2019.
Money Forward also announced on May 23, 2018 its Consolidated Financial Results for the Three Months Ended February 28, 2018.
The company reported the Net sales of 905 million yen for the three months ended February 28, 2018, which were up 77.5% as compared to the same period last year.
The Japanese company posted earnings per share of -6.68 Yen for the three months ended February 28, 2018.