DEALS IN JAPAN ACCELERATE FINTECH AMBITIONS
Freedom Holding Corp. is expanding its presence in Asia following a series of high-level meetings in Tokyo. During the visit to Japan, the company formalized several strategic agreements with Japanese partners, covering fintech services, digital financial technologies, ecosystem solutions, and the supply of Japanese goods to Kazakhstan.
These partnerships further advance Freedom Holding’s multi-vertical ecosystem and strengthen its global competitive position.
Opening the Doors
Freedom Holding Corp., a publicly traded fintech group listed on NASDAQ and known for building one of the most diversified business ecosystems in Central Asia, has finally acted on its long-standing interest in cooperating with the Japanese market. Themomentum came during Kazakh President Kassym-Jomart Tokayev’s first economic and technology-focused state visit to Tokyo at the end of December. This visit opened direct channels for the engagement of Kazakh companies with Japanesecorporations. “This is a case where high-level negotiations help to remove barriers, open doors, and build trust between leaders, which is then transferred to the business environment.
This allows businesses to calmly discuss, negotiate, sign documents, and launch projects,” said Timur Turlov, the lead of Freedom Holding’s delegation within the state visit.
Signing Strategic Partnerships
The Freedom Holding talks with Japanese counterparties resulted in a set of memorandums involving Freedom Holding Corp., Freedom Bank, and the group’s e-commerce arm Arbuz. The agreements cover digital financial technologies, the development of financial services, and cooperation in the export and commercial supply of Japanese goods to Kazakhstan, and are part of nearly fifty commercial agreements signed following President Tokayev’s official visit to Japan.
Specific agreements include a memorandum with Ledax Co., Ltd. to establish a joint venture for fintech-based financial services, covering banking, digital banking, consumer lending, and BNPL models; a memorandum with Kort Valuta Co., Ltd. to develop digital financial technologies, ecosystem services, and innovative products; and a commercial memorandum with Arai Shoji Co., Ltd. on the export and supply of Japanese goods to Kazakhstan, including industrial, consumer, food, and cosmetic products.
Learning from Rakuten
Not widely known, while developing its own fully integrated “SuperApp” several years ago, Freedom closely studied the experience of one of the world’s most mature digital ecosystems: Rakuten, a Japanese giant that operates across finance, mobile services, e-commerce, life and leisure services, and digital content and media, serving users worldwide through 70+ businesses based in 30 countries and regions. The Japanese company’s $3.5 billion annual cashback program had long served as a reference point for Freedom’s product design. “We studied Rakuten in depth, drew inspiration from them, and treated their model as a benchmark,” said Turlov.
The recent workshop with Rakuten executives in Tokyo transformed the distant observation into direct operational dialogue, allowing both sides to exchange practical insights and approaches. Now, both ecosystems have something to exchange. Due to fewer regulatory constraints in Kazakhstan, Freedom managed to go further in certain integrations, especially with government systems, while Japan’s experience in ecosystem loyalty models provided an impressive roadmap for scaling user engagement. “We had a very useful and inspiring workshop. Just a couple of years ago, it would have seemed completely unrealistic to imagine sitting here and comparing the Japanese and Kazakh ecosystems. But we are very lucky that this opportunity has arisen,” noted Timur Turlov.
Scaling in Japan
As noted by the head of Freedom Holding, cooperation between Kazakhstan and Japan within the holding will be bilateral, not only in the area of bringing Japanese goods and services to the Kazakh market. Timur Turlov said: “Overall, Japan is a very interesting market for us. We could be quite competitive there, either independently if we manage to obtain a license, or in partnership with local companies. We will study and develop this further.” In this case,Freedom acts in line with the global trend. According to Asian Banking and Finance Magazine—the leading publication for banking and finance executives in Asia—Japan’s fintech scene is booming, and global players are diving in despite tighter rules.
The Tokyo meetings also frame the moment for Freedom as a strategic point, where its ecosystem ambition begins to scale beyond its home region, reflecting the holding’s long-term goal to position itself not only as a leader in Central Asia but as a competitive fintech operator in developed markets. The company has spent the past several years expanding its multi-vertical ecosystem—banking, brokerage, payments, insurance, e-commerce, etc.—with the SuperApp serving as the platform that integrates these services and enables Freedom to scale its ecosystem globally. And in this regard, “the visit to Japan was very productive,” Turlov concluded.
