What Is Zaif?
Zaif is a Japanese centralized cryptocurrency exchange (CEX). It was one of the first crypto exchanges to obtain a license from the Japanese Financial Services Agency (JFSA). As of September 2018, it was ranked as the 35th largest cryptocurrency exchange by turnover. However, on September 14, 2018, the exchange’s hot wallets were hacked, with the equivalent of $60 million in cryptocurrency stolen.
Following the incident, Zaif suspended operations, entering a bailout agreement with FISCO, a Japanese brokerage that injected 5 billion yen ($44.675 million) in financial support. In November, the company was sold to FISCO Digital Asset Group Co. Ltd.
Who Are the Founders of Zaif?
The company was founded by Takao Asayama, CEO of Tech Bureau. Tech Bureau operated Zaif until FISCO purchased it in late 2018. At the time of publication, Ryuji Yagi headed the platform. Other members of the management team include Toshiya Kotake, Norifumi Imai, Takayoshi Abe, Kenji Yamaguchi, and Osamu Fukami.
CoinMarketCap could not confirm the background of these individuals since the majority of them do not have LinkedIn profiles.
When Did Zaif Launch?
Zaif made its debut on June 16, 2014.
Where Is Zaif Located?
The cryptocurrency exchange operates out of Japan’s busy capital city of Tokyo.
Zaif Restricted Countries
CoinMarketCap has been unable to confirm if any countries are restricted from using Zaif. However, besides the fact that the exchange is mostly in Japanese, an August 2022 announcement from the company said that the platform was “currently not accepting applications for opening an account for customers residing overseas. In addition, even if you are a customer who has completed identity verification in the past, we may refuse to use it at our discretion.”
What Coins Are Supported on Zaif?
The trading platform offers a limited number of digital assets. With just ten coins and 14 markets, BTC/JPY is the most active trading pair on the exchange.
How Much Are Zaif Fees?
Zaif charges some of the lowest fees in the cryptocurrency exchange market — 0.10% for takers and free of charge for makers for its spot trading market.
Is It Possible To Use Leverage or Margin Trading on Zaif?
Users can trade on margin with a leverage of up to 7.7x on the exchange platform.
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