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Digital Asset Markets, Inc. — Japan crypto-asset exchange operator overview

Confidence: Likely Updated 2026-05-18 Review by 2026-08-08 Sources 5 Machine-translated Original (JA)
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This entry sits under exchanges index. Read it with FSA crypto-asset exchange registration system — number system / Local Finance Bureau jurisdiction / registration requirements for adjacent context and Japan Financial Regulation — Legal Framework for Tokens, Crypto Assets, and Payments for the broader system boundary.

FSA registration number Kanto Local Finance Bureau 第00024号 · JVCEA member #1029 · registration date 2021-02-17

1. Corporate entity / shareholders

  • Trade name: Digital Asset Markets, Inc. (English: Digital Asset Markets, Inc.)
  • Date of establishment: 2018年8月1日 (former name: InterTrade Coin Co., Ltd.)
  • Head-office location: Kawakita Memorial Building 8F, 18 Ichibancho, Chiyoda-ku, Tokyo, postal code 102-0082
  • Capital: 29億6,749万円 (as of 2025年12月5日)
  • Fiscal year-end: end of 3
  • Listing status: Unlisted. Several listed companies / major firms are named among the shareholders

Major shareholders (disclosed portion): InterTrade (TSE Standard), Mitsui & Co., Japan Exchange Group (JPX), Monex Group, Japan Investment Adviser, bitFlyer Blockchain, Keyware Solutions, NEC Capital Solutions, Daihatsu, Seven Bank, Ehime Bank, Tokyo Tanshi, Hikari Securities, Akagiya HD, Yutaka Securities, Nissan Securities, Yamawa Securities, Hirota Securities, Astmax, WOW WORLD, MIRAITRONC Investment Limited Partnership, and others

The capital participation from Mitsui & Co. (2019年8月) and Japan Exchange Group (2022年2月) is particularly notable.

2. License / registration status

  • Crypto-asset exchange business: Director-General of the Kanto Local Finance Bureau 第00024号 (registration completed: 2021年2月)
  • Derivatives business: Not obtained (as a JVCEA Type I member, crypto-asset exchange business only)
  • Electronic payment instruments business: Not obtained
  • JVCEA membership type: Type I member (member number 1029)
  • Fintech Association: Corporate member
  • Japan Digital Decentralized Finance Association: Full member (joined 2026年4月)
  • ISMS certification: JIS Q 27001:2025 (ISO/IEC 27001:2022) obtained (2024年8月)
  • Privacy Mark: Obtained (2025年7月, registration number 10670061)

3. Handled currencies

The handled tokens number 3 (as of 2026年5月), all of which are the Zipangcoin series that the company independently issues and manages:

  • ZPG (Zipangcoin): A crypto-asset aiming to track the price of gold (GOLD) (handling started 2022年2月)
  • ZPGAG (Zipangcoin Silver): Tracks the price of silver (SILVER) (handling started 2023年7月)
  • ZPGPT (Zipangcoin Platinum): Tracks the price of platinum (PLATINUM) (handling started 2023年7月)

Major altcoins such as BTC / ETH are not handled. A niche position, rare in Japan, specializing in precious-metal-price-tracking crypto-assets.

4. Scope of business

  • Brokerage format: Spot trading only of ZPG / ZPGAG / ZPGPT. The exchange (order-book trading) format is not offered
  • Margin trading (derivatives): None
  • Crypto-asset lending / staking: Not disclosed
  • NFT: Not disclosed
  • ST (security token) business: The company website explicitly lists “ST business” as a business domain. Being developed as a platform business supporting issuance, distribution, fundraising, and management (details non-public)
  • Cybersecurity business: Separately offers data-protection services under the “Digital Shelter” brand
  • Fiat-deposit channel: Bank transfer (Resona Bank / PayPay Bank / GMO Aozora Net Bank), GMO Aozora Net Bank’s “bank deposit,” PayPay Bank’s “Link settlement”
  • Passkey authentication: Planned to be introduced in late 2026年5月 (disclosed in an important notice)

Crypto-assets are managed in 100% cold wallets, and cash is segregated via a money trust with Nisshokin Trust Bank.

5. Market share / trading volume

  • Trading volume / number of accounts: Not disclosed
  • Customer base: Mainly individual retail (iPhone app + web account-opening flow). Explicit provision of services for corporates / institutional investors has not been confirmed
  • Competitive positioning: A niche player among the 26社 domestic crypto-asset exchange operators. Does not handle major currencies such as BTC / ETH and specializes in 3 precious-metal-linked coins, targeting customer needs different from those of a typical exchange

6. History / major events

Year-MonthItem
2018-08Established as “InterTrade Coin Co., Ltd.”
2019-08Accepted investment from Mitsui & Co.
2020-03Joined the Japan Virtual and Crypto assets Exchange Association (JVCEA)
2021-02Crypto-asset exchange operator registration completed (Director-General of the Kanto Local Finance Bureau 第00024号)
2022-02Started the brokerage service handling Zipangcoin (ZPG)
2022-02Accepted investment from Japan Exchange Group (JPX)
2022-06Joined the Fintech Association
2023-07Started handling ZPGAG (silver) / ZPGPT (platinum)
2024-08Obtained the international-standard ISMS certification (JIS Q 27001:2025)
2025-03Cooperated in the strategic partnership between InterTrade and Fireblocks
2025-07Obtained the Privacy Mark
2026-04Joined the Japan Digital Decentralized Finance Association

No publicly confirmed cases of administrative action, hacking, or major system failure.

7. Strategic developments

  • Fireblocks linkage (2025年3月): Cooperated in the strategic partnership between its parent-level company InterTrade and Fireblocks. Suggests an advancement of custody technology.
  • ST (security token) business: Listed as a business domain on the company website, advocating the construction of a platform for digitizing, issuing, and distributing rights to tangible assets. Specific deals / scale are non-public.
  • Introduction of passkey authentication (planned for late 2026年5月): Strengthening the security of user authentication.
  • Because it has major financial institutions such as JPX, Mitsui & Co., and Monex Group as shareholders, there is a basis for institutional linkage; however, no publicly disclosed retail-expansion plan has been confirmed at this stage.
  • Representative Director, Kazuya Nishimoto: From Nippon Kangyo Kakumaru Securities (now Mizuho Securities). Established InterTrade in 1999年 (listed on TSE Mothers in 2004年). Established this company in 2018年. An expert in front-system development for securities firms.
  • Full-time Director, Tsuguo Kato: From Mitsui & Co. (served as CEO/COO of Mitsui Bussan Commodities in the US and UK, etc.). Assumed the current post after retiring from Mitsui & Co. in 2023年12月. A commodity-trading expert.
  • Outside Director, Hiroshi Morinaka: Representative Director and President of Hikari Securities (incumbent). Assumed office 2019年12月.
  • Outside Director, Naoto Shiraiwa: Representative Director of Japan Investment Adviser (incumbent). Assumed office 2020年6月.
  • Outside Director, Shinsuke Waka: Advisor of Mitsui & Co.’s Corporate Development Division (incumbent). Assumed office 2024年1月.
  • Full-time Audit & Supervisory Board Member, Katsumi Waki: From financial institutions such as the Bank of Tokyo. Assumed office 2018年11月.
  • Audit & Supervisory Board Member (part-time), Akira Yamamoto: Former Ministry of Finance / Bank of Japan executive director. Assumed office 2018年11月.

Sources