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Cryptocurrencies

Japan crypto exchange bitFlyer to be sold to Asian investment fund

Singapore-based ACA Group to buy majority stake valued up to $370m

Investors in one of Japan's largest crypto exchanges are eager to recover their investment amid an industry reorganization.

TOKYO -- The operator of one of Japan's largest crypto exchanges will be acquired by ACA Group, a Singapore-based Japanese private equity fund, Nikkei has learned.

The fund has agreed with a coalition of bitFlyer Holdings shareholders to buy a majority stake, which is estimated to have a value of up to 45 billion yen ($370 million).

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