The Tokyo Stock Exchange (TSE) is concerned about the prospect of buying Beat Holdings, whose shares are traded on its site, by Hong Kong-based Noah Ark Technologies. According to Nikkei, the latter is going to open several crypto-exchanges in Japan, the US, China and Europe, and also hold an ICO for $1 billion.
Earlier, the Hong Kong firm, which holds a 15% stake in Beat Holdings, suggested that the company include the words “Noah Coin” in its name and grant the right to purchase a 50% stake and other intellectual property. At the moment, Beat Holdings has a capitalization of 7.3 billion yen ($66 million).
In addition, it is known that Noah has not yet received permission from the Japanese regulator to open the crypto-exchange.
In Beat Holdings also reacted to the deal with a share of skepticism. So, the CEO of the company Lian Yin Khan expressed confidence that Noah is only interested in buying a seat on the largest stock exchange in Asia.