FISCO Ltd., a Japan-based investment support services provider, has announced its plans to set up Fisco Coin Co., Ltd – a new company that will operate exchanges for bitcoin and other cryptocurrencies.

Recently, Japan's cabinet approved new regulations relating to cryptocurrencies such as bitcoin. The new regulations recognize bitcoin as a legal form of payment fulfilling the functions of currency. Live Bitcoin News says that the law, still a draft, is expected to receive positive votes in the country's parliament and will be implemented once a majority is reached.

 According to FISCO, the legislation will be further improved and the cryptocurrency industry will significantly grow in the future, Japanese Financial & Fintech News reported. Considering the present situation, FISCO group has decided to establish an operator of bitcoin exchange.

FISCO COIN will initially manage the bitcoin exchange and intend sales of its trading system. The company also plans to develop and manage financial derivative instruments and offer B2B services such as bond issue and B2C services such as crowd funding, all involving virtual currencies. It aims to position itself as the hub of virtual currencies that provides one-stop-service.

The group’s company, SJI, has been focusing on blockchain technology and will also technologically support FISCO COIN.

FISCO Ltd. is a professional group that provides superb investment support services. The FISCO Group aims to constantly pursue a path of creativity and change in order to provide the optimal intelligence needed for people to make effective decisions in their investment and other economic activities in a society transform faster than ever.