Zaif Exchange

About Zaif Exchange

Zaif is a Japanese cryptocurrency exchange that was established in 2014 and is headquartered in Tokyo. It was among the first cryptocurrency exchanges to be licensed and regulated by the Japanese Financial Services Agency (JFSA). The exchange primarily serves the Japanese market and accepts deposits in Japanese Yen (JPY).

The company was originally operated by Tech Bureau Corp. In September 2018, the exchange suffered a security breach, resulting in the theft of approximately $60 million in cryptocurrencies. Following the hack, Fisco, a Japanese investment firm, acquired the exchange in a deal valued at around ¥5 billion ($44.675 million) and took over operations. The parent company has undergone several name changes and reorganizations, with the operating entity now known as Zaif Inc. as of early 2024.

Zaif provides a platform for both novice and intermediate cryptocurrency traders, offering spot trading, margin trading with leverage, and automated trading services. The platform supports a range of cryptocurrencies that can be traded against JPY and Bitcoin. Key services include an 'easy trading' interface for beginners, an order book for more experienced users, staking, and lending. The business generates revenue from trading fees, which vary depending on the transaction type and volume, and fees associated with margin trading. Security measures implemented by the exchange include two-factor authentication (2FA) and cold storage for the majority of user funds.