RedotPay Group has acquired domestic cryptocurrency exchange BTC Box. While it aims to provide services for residents of Japan in compliance with Japanese laws and regulations, BTC Box has suspended new registrations and app distribution, and details of future measures are expected to be announced.
RedotPay Group, which operates crypto-asset payment services, announced in an official notice that it had acquired BTC Box, a domestic crypto-asset exchange service provider. It said that it aims to provide services compliant with Japanese laws and regulations through BTC Box.
BTC Box was founded in 2014 and registered as a crypto-asset exchange service provider in September 2017. It had suspended all services following a customer information leak in January 2024, but announced that it had strengthened security measures after the end of July of that year and would resume services in stages from 3 August.
RedotPay decided to make the acquisition after evaluating BTC Box's operating track record and team structure. It said that it would provide financial and technical support to facilitate the early launch of services for Japan and promote expansion in the Japanese market.
New registrations for Japan and distribution through domestic app stores have already been suspended. Details of future restrictions and the discontinuation of services for existing users are also scheduled to be announced.