Tokyo-based digital currency exchange bitFlyer has teamed up with Brave International SEZC, a subsidiary of Brave Software, Inc., the developer of the Internet browser – which monetizes web browsing by using the Basic Attention Token (BAT).
As mentioned in a release shared with CI, bitFlyer will be Brave’s first partner in the digital asset wallet space in Japan. The exchange began listing BAT in April 2020.
BAT is a utility token that has been integrated with the Brave browser.
As noted in the announcement:
“To further strengthen its cooperation, [bitFlyer will] start developing a crypto-asset wallet for Brave browser users. [The exchange] will also launch a joint marketing campaign to [promote greater awareness] of cryptocurrencies and blockchain technology among its customers and to improve [user experience].”
Founded in 2014, bitFlyer aims to “simplify the world with blockchain.” The company says that it offers a high level of security on its crypto trading platform. bitFlyer also claims that it is one of the largest Bitcoin (BTC) exchanges in Japan (in terms of trading volume). It’s reportedly the only crypto-asset exchange that’s licensed to operate in Japan, the US, and the European Union.
Brave Software aims to offer a fast, privacy-oriented web browser that comes with a blockchain-powered digital advertising platform. Brave’s developers claim that they’re “reinventing” the Web for users, publishers and advertisers. Users are able to enjoy a (semi) private, faster internet surfing experience while publishers are able to generate more revenue when using the browser (compared to other alternatives).
Last month, the crypto-powered Brave browser’s developers had to suspend their referral program for users based in China, Indonesia, Vietnam, Russia, and Ukraine. The company said it found a “high number of fraudulent referrers” in these countries.
Brave’s referral program lets content producers earn Ethereum-based Basic Attention Tokens (BAT) for getting new users to download the company’s so-called privacy browser through unique referral codes.
Although Brave’s referral program was supposed to be capped at $1 million (in BAT), it had managed to somehow exceed the limit.
The Brave team had noted last month:
“The ability for Brave supporters to share the browser directly has led to unprecedented success, helping grow the Brave user-base to more than 15 million monthly active users worldwide.”
Brave had said it has only temporarily halted its referral program, and plans to resume the initiative in these countries (mentioned above) “in the near future.”
Notably, the Brave browser had been automatically filling in an affiliate link into its address bar when users tried to visit crypto exchange Binance’s website including its US-based division, Binance.US.
Brendan Eich, co-founder and CEO at Brave, admitted that the company made a “mistake,” and said that it would fix the issue.