Japan-based stock exchange Remixpoint has made a significant crypto investment. The company, which is listed on the Tokyo Stock Exchange, announced on September 26 that it has purchased a total of 1.5 billion yen (approximately $10.55 million) worth of cryptocurrencies.
Bitcoin (BTC): 64.4 BTC, worth 600 million yen
Ethereum (ETH): 130.1 ETH, worth 50 million yen
Solana (SOL): 2,260.5 SOL, worth 50 million yen
Avalanche (AVAX): 12,269.9 AVAX, worth 50 million yen
The purchase, totaling 750 million yen, was planned as part of the company’s broader investment strategy. The Remixpoint board of directors approved the cryptocurrency purchase as part of the company’s cash management approach.
The timing of the investment comes amid growing interest in global cryptocurrency markets, with the approval of Bitcoin spot ETFs by the U.S. Securities and Exchange Commission (SEC). Bitcoin spot ETFs have also been launched in Hong Kong and Australia, further fueling interest in the digital asset. The emergence of Ethereum spot ETFs has further bolstered institutional crypto investment.
Remixpoint aims to protect itself against the potential depreciation of the yen by channeling some of its current cash surplus into digital assets. This strategy aims to reduce the company’s reliance on the Japanese yen and diversify its currency risk.
Additionally, the company has implemented a comprehensive risk management strategy for cryptocurrency investments, which includes creating dedicated departments for investment management and administration, conducting quarterly market valuations, and using major cryptocurrency exchanges for transactions.
