Zaif

What Zaif does

Zaif is a Japan-based, FSA-registered retail and institutional cryptocurrency exchange operated by 株式会社Zaif (Zaif Inc.), headquartered in Tokyo and structured as a subsidiary of Keshimu Group (TSE Standard: 6634). The platform serves Japanese retail investors, high-net-worth individuals, and institutional clients, holding Kansai Finance Bureau Registration No. 00001 and JVCEA membership. Its core product is a multi-channel spot exchange offering both an orderbook-based venue and a simplified instant-purchase interface (かんたん売買), with maker fees of 0% and taker fees of 0.1%. Beyond trading, Zaif operates an integrated ecosystem that includes Zaif Card (a cryptocurrency cashback credit card, the only such card usable at a domestic Japanese crypto exchange), automated Coin Accumulation plans from 1,000 JPY/month, staking for ETH and XYM (with optional Japanese Yen reward receipt), Zaif Payment merchant settlement, and Zaif Prime Desk OTC trading for transactions of 10 million JPY and above. The technology stack comprises a proprietary trading engine, wallet management, staking infrastructure, iOS/Android mobile applications, and recent additions including Babylon Protocol-based Bitcoin staking via Bflux, Rubrik-based backup and ransomware protection, and DMARC email authentication.

Zaif generates revenue primarily through transaction-based fees (trading fees on the exchange and OTC spreads on the Prime Desk), credit card processing fees on Zaif Card, and monthly subscriptions on Coin Accumulation plans. Go-to-market is hybrid: self-serve retail through zaif.jp and mobile apps for retail investors, enterprise sales through the Prime Desk inquiry flow for OTC clients, and brand-led community-building via WebX conference sponsorship, ZaifNight events, and active social media presence on X, Facebook, and YouTube. The customer base is segmented horizontally across retail, HNI/institutional, and Bitcoin yield-seeking users.

Zaif's history includes a significant security breach in September 2018 resulting in approximately $60 million in losses across Bitcoin, Bitcoin Cash, and MonaCoin, followed by acquisition by Fisco Group to facilitate customer compensation. In 2023, Zaif was integrated into Keshimu Group under a renewed vision of "asset formation with crypto at Zaif" (暗号資産で資産形成ならZaif). Leadership transitioned in September-October 2025 with Naoki Ishihara appointed as President and Representative Director. Operating geography is restricted to Japan, with no disclosed international expansion.

Name

Zaif

Legal name

株式会社Zaif

Website

https://corp.zaif.jp

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

Zaif is a Tokyo-based, FSA-registered Japanese cryptocurrency exchange (Kansai Finance Bureau #00001) offering spot trading, a crypto cashback credit card, automated coin accumulation, staking, and OTC services to Japanese retail and institutional investors under Keshimu Group ownership.

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange

NAICS

Securities and Commodity Exchanges (52321), Credit Card Issuing (52221)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG)

akta.pro secondary industries

Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid) (FSADAIAC), POS, QR & In-Person Acceptance Infrastructure (Crypto) (FSADAIAI)

Keywords

• Cryptocurrency exchange
• Spot trading platform
• Crypto staking services
• OTC crypto trading
• Digital asset trading

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales, Others

Revenue model

1. Trading Transaction Fees: Commission-based revenue from cryptocurrency trading on the exchange. Maker fees are 0% and taker fees are 0.1% for Orderbook trading. Additional fees may apply for other services.
2. OTC Trading Spread: Zaif Prime Desk generates revenue through spreads included in the purchase and sale prices quoted to customers for large-value OTC cryptocurrency transactions, with pricing customized per transaction.
3. Zaif Card Processing Fees: Revenue generated from credit card transaction processing when users use the Zaif Card for purchases, benefiting from the cryptocurrency cashback structure.
4. Coin Accumulation Plan Fees: Fees collected from the Zaif coin accumulation (coin stacking) service, including subscription fees and transaction costs for automated daily purchases.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels9 records

Core offering

Zaif is a Japan-based, FSA-registered cryptocurrency exchange offering spot trading (Easy Trading and Orderbook modes), automated Coin Accumulation purchases, ETH/XYM staking with Japanese-Yen reward option, OTC Prime Desk trading for large orders, a crypto-rewards credit card (Zaif Card), merchant crypto payments (Zaif Payment), and Bitcoin staking via the Babylon Protocol. Its integrated ecosystem combines trading, recurring investment, yield generation, and card-based spending under one consumer-facing platform.

Product overview

Zaif is a Japan-based cryptocurrency exchange operated by 株式会社Zaif, regulated by the Kinki Finance Bureau (Registration No. 00001). The platform operates as an integrated cryptocurrency financial services ecosystem offering multiple interconnected services: the core exchange handles spot trading through two channels (かんたん买卖 for instant OTC-style transactions and Orderbook Trading for exchange-based limit orders); Zaif Card provides a unique cryptocurrency rewards credit card usable at the exchange; Coin Accumulation enables automated recurring purchases; Staking offers blockchain network participation rewards; Zaif Payment facilitates merchant cryptocurrency settlements; and Zaif Prime Desk serves institutional investors with OTC large-volume trading. Recent additions include Babylon Bitcoin Staking with Bflux (December 2024), Zipangcoin Silver and Platinum listings (May 2025), staking JPY receipt option (June 2025), and JOCcoin listing (February 2026). The company joined the Japan Virtual and Crypto Assets Exchange Association (JVCEA) and is a member of the Kusim Group.

Differentiator

Problem solved

Functional benefit

Products and services

• Zaif Exchange Japan-based, FSA-regulated cryptocurrency spot exchange offering Easy Trading (OTC-style instant buy/sell) and Orderbook Trading (limit/market orders) for multiple cryptocurrency pairs against Japanese Yen and BTC; serves Japanese retail and active traders.
• Zaif Prime Desk Over-the-counter (OTC) cryptocurrency trading desk for large-volume BTC/JPY and ETH/JPY transactions (minimum 10 million JPY equivalent); provides customized quoted pricing, market-impact minimization, and dedicated staff consultation for high-net-worth individuals and institutional investors.
• Zaif Card Proprietary crypto-rewards credit card (now JCB-branded) that rebates Bitcoin (BTC), Ethereum (ETH), or Symbol (XYM) on spending; offers up to 1.2% cashback for Zaif exchange transactions and 0.8% at other merchants; positioned as Japan's only credit card usable at a domestic cryptocurrency exchange.
• Zaif Coin Accumulation Automated recurring-purchase cryptocurrency service that buys specified amounts of crypto daily through Zaif Orderbook or Easy Trading; supports payment by Zaif Card, bank account transfer, or account deduction, with a minimum 1,000 JPY monthly investment per cryptocurrency.
• Zaif Staking Cryptocurrency staking service that rewards users for holding supported assets that contribute to blockchain network stability; supports Ethereum (ETH) and Symbol (XYM) at approximately 3% annual yield, with rewards payable in cryptocurrency or in Japanese Yen.
• Babylon Bitcoin Staking (via Bflux) Bitcoin staking service built on the Babylon Bitcoin Staking Protocol in partnership with Bflux; enables Bitcoin holders to earn staking rewards by contributing security to PoS chains and L2 networks without transferring BTC custody to third parties.
• Zaif Payment Cryptocurrency payment service that enables merchants and individuals to accept and settle in cryptocurrency; currently supports Bitcoin (BTC) and Skeb Coin (SKEB) for merchant payments.
• Zaif Mobile App iOS and Android smartphone application for cryptocurrency trading and account management, featuring Easy Trading (OTC-style instant buy/sell), Orderbook trading, automatic trading, Coin Accumulation, and staking management; underwent a major UI renewal in June 2026.

Quantifiable outcome

• Staking annual reward rate approximately 3%
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• WebX OrganizersflagshipGTM or Marketing Partner · 25 August 2025Zaif participated as Platinum sponsor of WebX, Asia's largest Web3 conference co-organized by WebX Executive Committee and CoinPost. The event attracted 20,000+ expected attendees, 3,000+ companies, and 200+ media partners, providing significant marketing exposure.
• RubrikcoreTechnology or Integration · 29 May 2025Zaif adopted Rubrik's data protection solution to enhance cybersecurity and protect customer data from ransomware and cyber attacks. Rubrik's platform provides backup and disaster recovery capabilities with data stored in isolated secure environments independent from Zaif's internal systems. Rubrik has been recognized as a Leader in Gartner Magic Quadrant for Backup and Data Protection Platforms for 6 consecutive years.
• BfluxcoreStrategic or Co-development Partner · 25 December 2024Zaif partnered with Bflux to develop and launch Bitcoin staking services using the Babylon Bitcoin Staking Protocol. This partnership enables Zaif users to earn staking rewards on Bitcoin holdings while maintaining self-custody, without transferring assets to third parties. The collaboration aims to provide Japanese users access to innovative cryptocurrency yield opportunities.
• Babylon LabscoreTechnology or Integration · 25 December 2024Babylon Labs developed the Babylon Bitcoin Staking Protocol that enables Bitcoin holders to earn staking rewards. Zaif integrates this protocol through its partnership with Bflux to offer Bitcoin staking services to Japanese users.
• Mitsui & Co. Digital Commodities (三井物産デジタルコモディティーズ)coreTechnology or Integration · 23 December 2024Mitsui & Co. Digital Commodities issues Zipangu Coins (ZPG, ZPGAG, ZPGPT) - cryptocurrency tokens pegged to gold, silver, and platinum commodities. Zaif started listing these tokens starting December 2024, offering users inflation-hedging investment options through digital commodity assets.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Coincheck: Major Japanese crypto exchange owned by Monex Group, providing spot trading, staking, and NFT marketplace services. Comparable to Zaif as a domestic FSA-registered exchange serving Japanese retail with similar product breadth and GTM motion.
• bitFlyer: Japan's largest cryptocurrency exchange by BTC trading volume, offering spot trading, staking, and OTC services to retail and institutional clients under FSA registration. Directly comparable to Zaif on regulatory standing, customer base (Japanese retail), and product mix.
• GMO Coin: Japanese crypto exchange operated by GMO Internet Group, offering spot trading, leveraged trading, and staking. Comparable as a domestic FSA-regulated exchange with parent-group backing and similar retail focus.
• Binance Japan: Japanese subsidiary of global crypto exchange Binance, offering spot trading and staking under FSA registration. Comparable to Zaif as a regulated domestic exchange but with vastly larger global scale, liquidity, and token listings.
• bitbank: Japanese FSA-registered cryptocurrency exchange offering spot trading, staking, and lending. Directly comparable to Zaif in regulatory profile, customer base, and product offering; both serve Japanese retail with similar orderbook and OTC-style services.
• BTCBOX: Long-standing Japanese cryptocurrency exchange offering spot trading. Comparable to Zaif as a mid-tier domestic FSA-registered exchange with similar product scope and customer base.
• LINE Xenesis (formerly LINE BITMAX): Japanese crypto exchange operated by LVC Corporation (LINE group). Comparable as a domestic FSA-regulated exchange targeting Japanese retail users, leveraging a major consumer messaging platform for distribution.

Broad incumbents

• Crypto.com: Global crypto exchange and Visa card issuer offering trading, staking, and crypto cashback cards. Comparable to Zaif on the integrated card + exchange + staking business model and Japanese market presence, but at materially larger global scale.
• Coinbase: US-headquartered publicly listed crypto exchange offering trading, staking, custody, and a Coinbase Card with crypto rewards. Comparable to Zaif in business model (CEX + card + staking) but operates globally at far larger scale and is publicly traded.
• Kraken: Global crypto exchange offering spot trading, staking, and OTC desk services. Comparable to Zaif on exchange-plus-staking-plus-OTC product mix, though Kraken operates globally with significantly larger scale and is a potential expansion benchmark for Zaif Prime Desk.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/zaifdotjp
• YouTubeyoutube.com/channel/UCU69BCDodO8e5FV9dL2xJ5g
• Facebookfacebook.com/zaifdotjp

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zaif