Yuzo Kano, co-founder of bitFlyer, a major cryptocurrency exchange in Japan, plans to run for CEO again in a bid to reinvigorate the company. Kano left the company in 2019 amid a series of management disputes, but his goal is to steer the company toward an Initial Public Offering (IPO) in the coming months, according to a Bloomberg report. He also hopes to put Japan back on the map in the cryptocurrency world by making bitFlyer able to compete on the international stage.

Kano intends to introduce stablecoins to the trading platform, build a token issuance operation, and open bitFlyer’s “miyabi” blockchain to the public if reinstated. He believes that the company has stagnated in his absence, with no new products or services launched, which he intends to change. He claims that bitFlyer is “a company that doesn’t produce anything new.”

Regulatory pressures imposed by the Japan Financial Services Agency in 2018 led to management problems at bitFlyer, with the need to adopt stricter money laundering policies. Despite this, bitFlyer remains one of the largest cryptocurrency exchanges in Japan, with more than 2.5 million accounts. The departure of international competitors such as kraken and Coinbase has left bitFlyer with a stronger position in the Japanese market.

Kano retained a 40% stake in the company despite stepping down as CEO and believes he can help bitFlyer regain its former status as an innovative and dynamic company. He plans to introduce new products and services, including stablecoins and token issuance operations, and hopes to take the company public in the near future.

If Kano is reinstated as CEO, his plans for bitFlyer could help solidify the company’s position in the Japanese and international cryptocurrency markets. By introducing stablecoins and other innovations, it could attract new users and investors to the platform. Additionally, opening the bitFlyer blockchain to the public could foster collaboration and innovation in the broader cryptocurrency community.

In short, Yuzo Kano, co-founder of bitFlyer, is aiming to return as CEO in an attempt to reinvigorate the company and steer it towards an initial public offering. He plans to introduce new products and services, including stablecoins and token issuance operations, and hopes that bitFlyer will be able to compete on the international stage. By doing so, he believes he can put Japan back on the map of the cryptocurrency world.