Japanese Cryptocurrency Exchange DeCurret Issues ¥2.75 Billion in a Third-Party Allocation of Shares

DeCurret, a Japan-based cryptocurrency exchange, announced on Friday it has issued ¥2.75 billion in a third-party allocation of shares. The platform, which was founded in 2018, stated that amidst a “growing major trend towards the spread of digital currency” it has become a “main bank of digital currency.”

DeCurret reported that its largest shareholder, Internet Initiative Japan Inc. subscribed for the third-party allocation of shares, implemented by way of converting certain debts arising based on transactions with IIJ into equity capital. Changes in capital stock and capital reserves before and after the capital increase:

                                  Before                 After

Capital stock:        ¥4.314 million   ¥5.691 million

Capital reserves:   ¥4.314 million   ¥5.691 million

DeCurret went on to add that it is planning to use the proceeds of the capital increase not only to enhance transaction services for existing virtual currencies but also to develop and to promote the business for the expansion of digital currency and settlement services.

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