Japan's Financial Services Agency (FSA) recently approved Bitocean as its 16th licensed cryptocurrency exchange, signaling growing competition in the sector. Amid this landscape, exchanges are increasingly looking overseas for expansion opportunities, while more merchants integrate Bitcoin-related services into their operations.
Bitocean: Japan's Newest Approved Bitcoin Exchange
- Location: Tokyo-based Bitocean received FSA approval to operate as a cryptocurrency exchange, exclusively trading Bitcoin (BTC).
Background: Established in 2013 with operations in China and Japan, Bitocean specializes in:
- Bitcoin automated teller machines (BTMs)
- Trading platform development
- Support for Mt. Gox’s liquidation process
This marks the third wave of FSA approvals:
- September: 11 exchanges licensed
- Early December: 4 exchanges added
- Bitocean as the 16th approved platform
Notably, Coincheck, Japan’s second-largest Bitcoin exchange, remains under FSA review.
Overseas Expansion: A Strategic Shift for Japanese Exchanges
With intensifying domestic competition, FSA-approved platforms are pivoting to global markets. Key drivers include:
- Limited trading volume and liquidity in Japan’s crowded exchange landscape
- Few available cryptocurrency pairs, leading to prolonged transaction times
- Market volatility triggered by large orders
Major Players Going Global
- Bitflyer: Expanded to the U.S. (November 2025) with plans for a European exchange
- Quoine: Launching services in the Philippines in 2026
- Bitpoint: Opened a South Korean exchange (November 2025), with a Taiwan launch slated for January 2026
- Bitbank: Targeting Asia and Africa for future growth
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Rising Bitcoin Adoption Among Japanese Merchants
Beyond exchanges, Bitcoin acceptance is gaining traction:
- Major used-car dealerships now accept crypto payments
- Retailers integrating digital currency options
- Growing consumer demand for crypto-friendly services
FAQ: Japan’s Crypto Exchange Landscape
Q: How many cryptocurrency exchanges are approved in Japan?
A: As of December 2025, 16 exchanges hold FSA licenses, with more under review.
Q: Why are Japanese exchanges expanding overseas?
A: Saturated domestic markets and limited liquidity push platforms to seek growth abroad.
Q: Which merchants accept Bitcoin in Japan?
A: Auto dealers, retailers, and service providers increasingly adopt crypto payments.
Q: Is Coincheck currently approved by the FSA?
A: No—Japan’s second-largest exchange remains in the licensing review process.
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Key Takeaways
- Japan’s regulatory clarity fosters exchange growth (16 approved to date).
- Overseas expansion addresses domestic market constraints.
- Bitcoin adoption rises among businesses and consumers.