Feb 27, 2023 13:05 UTC
Feb 27, 2023 at 13:05 UTC
BitFlyer author seeks to reinstate tone as CEO, leading establishment to IPO Report
Despite stepping down as CEO three times agone , Yuzo Kano has continued to have a significant influence on the company, given he’s the Japan- grounded crypto exchange’s largest stakeholder.
Yuzo Kano, theco-founder of Japan- grounded cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting coming month, in an apparent shot to reinvigorate what he claims is a stagnating establishment.
Kano resigned in 2019 following a series of operation controversies but is now determined to reinvigorate the crypto establishment and lead it toward an original Public Offering( IPO) in the coming months, according to a Feb. 26 report by Bloomberg.
The former CEO also said he also wants to put Japan back on the chart in the world of cryptocurrency.
“ I’ll make it able of fighting on the transnational stage, ” the bitFlyerco-founder told Bloomberg.
According to the interview, if reinstated Kano intends to introduce stablecoins to the trading platform, to make a commemorative- allocation operation, and to open- source bitFlyer’s “ miyabi ” blockchain to the public, along with pursuing an IPO in the coming months.
Kano, who retained a 40% stake in the company despite stepping down — explained that during his time as CEO, bitFlyer stopped instituting and launching new products and services, which he intends on changing.
It’s “ a company that produces nothing new, ” he claimed.
With over2.5 million accounts, bitFlyer is one of the larger cryptocurrency exchanges in Japan, which has seen the departure of some transnational challengers lately. On Dec. 28, Kraken blazed the check of its Japan business, while Coinbase halted its Japanese operations on Jan. 18.
important of the operation issues endured at the establishment came in part due to nonsupervisory pressures assessed by Japan’s Financial Services Agency in 2018 to borrow more strict plutocrat laundering programs.
Kano added that multiple CEOs have come and gone since also because, as bitFlyer’s largest shareholder, he’d refocused out where they were falling short
“ It’s my responsibility to point out issues and demand enhancement(.) I reprimand people when they beget problems, make false reports or fail to do whatever they’re supposed to do. ”
nevertheless, the former CEO believes the “ veritably strict regulations ” set in place can serve as a “ model for the rest of the world. ”