Categories: News

bitFlyer to Develop Crypto-Asset Wallet for Brave’s Japanese Users

The Tokyo-based cryptocurrency exchange bitFlyer will develop a crypto-asset wallet for Brave browser’s users in Japan.

On Thursday, bitFlyer announced its partnership with Brave International SEZC, the developer of the Basic Attention Token (BAT)-powered browser.

“bitFlyer will be Brave’s first partner in the crypto-asset wallet space in Japan,” the statement said. The move came after bitFlyer had listed BAT in April.

Both companies will launch “a joint marketing campaign to expand the recognition of cryptocurrencies and Blockchain technology.”

No further information was available on the crypto-asset wallet.

Ryotaro Chikaki, Brave’s chief marketing officer for Asia, told CoinDesk on Thursday that the partnership aimed to expand their ecosystem in Japan.

He added, “the wallet feature was already available to Brave users outside Japan,” according to CoinDesk.

Japanese Can Only Use BAP

Brave is a privacy-oriented browser, developed by San Francisco-based Brave Software Inc.

The rewards of the browser is built on BAT, which aims to connect users, creators, and advertisers.

To clarify, when a user joins Brave Rewards, the browser will automatically start calculating the attention they spend on sites they visit.

In other words, Brave “will send once a month the corresponding amount of BAT, divided up based on the user’s attention, from their local browser-based wallet to the sites they have visited,” according to Brave’s official website.

In 2014, Mt. Gox, once the world’s largest bitcoin exchange, announced that 850,000 bitcoin worth over $400m disappeared. As a result, Japan issued new regulations that only allow the use of Basic Attention Token Points (BAP).

Blockchain Growth in Japan

The number of Japanese cryptocurrency and Blockchain companies has jumped over 30% in 2020, according to Monex Group’s Blockchain Data Book 2020.

bitFlyer is a Bitcoin exchange and marketplace that offers its customers with appropriate ways to buy, sell, and spend Bitcoins.

It was among 11 companies that Japan officially recognised in 2017 as registered cryptocurrency exchange.

In April 2017, Japan passed a law recognising bitcoin as legal tender.

The World Economic Forum survey in 2015 said, “the total worth of bitcoin in the Blockchain is around $20bn, or about 0.025% of global GDP of around $80trn.”

The survey added, “10% of global GDP stored on Blockchain technology expected to increase in 2027.”

Fatma Lotfi

Egyptian bilingual journalist with six years of experience, focusing on various beats, including tech, cryptocurrencies, and finance.

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