Eighteen companies are requesting the new license required to operate a crypto-currency exchange in Japan. The licensing regime, introduced by Japan in April, aims to ensure that exchanges operate in full compliance with financial regulatory procedures and fraud .
As a result of the applications, some of which come from existing exchanges such as BitFlyer, ten new players are scheduling to debut in the market and meet an expected increase in demand.
These companies include SBI Holdings' SBI virtual currencies, GMO Internet, Kabu.com Securities and Money Partners Group, according to Nikkei reports.