Cardano’s native asset, ADA, is to be listed in Japan for the first time, some believe this is similar to Coinbase listing for the Japanese community
CTO and co-founder of dcSpark, Sebastien Guillemot, has shared a post from Japanese crypto exchange Bitpoint.
The platform has announced that it plans to list the native token of Cardano that powers its ecosystem—ADA, the fifth-largest digital currency—later in August.
Guillemot emphasized that Japanese regulators have strict rules for listing cryptocurrencies on exchanges and only a small number of coins are allowed to be listed in the country.
Cardano was finally listed in Japan! 🇯🇵 $ADA
Japan has extremely strict rules for crypto exchange listings.
Only a small number of tokens can be listed in Japan, and ADA is now on that list! 🎉🎉 https://t.co/n2oxPHKa36
— Sebastien Guillemot (@SebastienGllmt) August 3, 2021
In the comment thread, he compared this listing to a coin being listed on Coinbase, claiming that this event is on the same level for the Japanese crypto community.
Earlier, U.Today reported that the largest crypto investment fund, Grayscale, had set up an ADA-based trust, making Cardano’s native coin its third-largest investment.
Japanese users, however, had been able to buy and sell ADA via other exchanges, based in other countries but operating in Japan.