BitFlyer Founder Eyes Comeback and Plans for IPO

• Yuzo Kano, co-founder and former CEO of BitFlyer Holdings Inc., desires to return as CEO and lead the corporate to an IPO.
• Kano claims that BitFlyer has stopped innovating since his departure.
• The previous CEO plans to open-source BitFlyer’s blockchain, and introduce stablecoins, amongst different plans.

In an effort to resolve a dispute with the present administration and different shareholders over management of BitFlyer Holdings Inc., co-founder Yuzo Kano seeks to return to his position as CEO of Japan’s largest cryptocurrency alternate. Kano expects to reclaim his place as CEO in a gathering with shareholders subsequent month, a report reveals.

After resigning in 2019 resulting from inner conflicts, Kano desires to revitalize the cryptocurrency agency and information it towards an IPO (Preliminary Public Providing). The previous CEO has additionally said his want to revive Japan’s dominance within the cryptocurrency trade.

“I’ll make it able to combating on the worldwide stage,” Kano mentioned in a latest interview.

In response to his interview, if he’s reinstated, he plans to open-source BitFlyer’s “miyabi” blockchain to the general public and introduce stablecoins to the buying and selling platform, alongside the plans for an IPO. Kano, who stepped down as CEO however saved a 40% share within the agency, mentioned that whereas he was away, BitFlyer ceased innovating and introducing novel services and products.

Moreover, he talked about that a number of CEOs have been and gone since his departure, including:

It’s my accountability to level out points and demand enchancment […] I reprimand individuals once they trigger issues, make false reviews or fail to do no matter they’re alleged to do.

BitFlyer is likely one of the largest Japanese cryptocurrency exchanges, serving over 2.5 million customers. The agency’s administrative points have been partly pushed by Japan’s Monetary Companies Company’s 2018 regulatory requirements to implement stricter cash laundering measures. Nonetheless, the previous CEO thinks the “very strict laws” carried out might function a “mannequin for the remainder of the world.”