The Japanese Financial Services Agency (FSA) has approved one more cryptocurrency exchange to operate digital currency business in the country, Bitcoin.com reported.

BitOcean Corporation, a Tokyo-based bitcoin startup, has become the 16th company to make it to the list of approved cryptocurrency exchanges. Founded in 2013, the company is developing two-way bitcoin ATMs (BTMs) and a bitcoin trading platform

The company’s website states:

“We are a Bitcoin startup company founded in Tokyo with the support from Bitocean and Atlas ATS. We are working on setting up a new Bitcoin trading platform in Tokyo while at the same time we are contributing to help with MT.GOX’s liquidation/rehabilitation process.”

In addition to BitOcean, the FSA approved a number of cryptocurrency exchanges in December 2017, including Tokyo Bitcoin Exchange Co. Ltd, Bit Arg Exchange Tokyo Co. Ltd, FTT Corporation, and Xtheta Corporation. Earlier in September, the regulator gave a green light to 11 exchanges.

BitOcean is joining forces with VeChain to develop an ATM powered token application ecosystem on the blockchain.

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