Japan-based Fintech venture, Finatext partnered with Yahoo Japan Group’s YJFX!, forex and binary option broker, and today launched a pre-registration website for Forex community app “Karu FX”. The new service is scheduled to start its operation in this autumn.
Japanese forex market is the largest market in the world as the trading volume for fiscal year ended March 2015 reached 4,218 trillion JPY and clients deposit increased to 1.3176 trillion JPY with double digit growth according to Yano Research Institute.
Finatext focuses on the current situation that forex is still regarded as a gambling financial product due to a lack of user’s understanding toward risk and return, and a few communities where users can exchange their ideas and thoughts even though forex provides an efficient investment with leverage.
The “karu FX” is an app to deliver a platform users can share their ideas and help novice investors to get used to the market by enjoying the app.
Finatext is a startup venture established in 2014. One of the company’s main products is Asukabu, a stock-dedicated app. This app had collected over 1.2 million forecasts for stock price from users, and is the largest forecasting community in Japan. Using strength of Finatex’s community management skill cultivated through Asukabu, the fintech company aims to establish the largest forex community in Japan with the “karu FX”, according to the announcement.
Finatext is also famous for becoming the first ever Japanese winner at a Fintech pitch contest hosted by the largest Malaysian bank, Maybank.
(Source: PR TIMES)
- 2015/09/28 Asukabu, Japan made stock app, gathers 1 million forecast in 10 months
- 2015/06/30 Tokyo-based Finatext raises the trophy at the pitch contest in Malaysia
- 2015/06/23 Winners announced at FinTech Challenge2015 organized by Japanese mega bank
- 2015/04/10 Rakuten securities expands its highly-valued stock app, aggregating huge amount of forecasts