The EOS Network Foundation (ENF) has achieved a significant milestone in its quest to expand its presence in the Asian market. EOS, the blockchain platform’s native token, has received regulatory approval in Japan, opening the door for it to be traded against the Japanese yen on regulated exchanges. This development comes as the latest step in EOS’s efforts to tap into the thriving Japanese cryptocurrency market.
Whitelist Approval Paves the Way
The EOS token, currently priced at $0.59, has been granted whitelist approval by Japan’s crypto regulator. This approval, issued by the Japanese Virtual and Crypto Asset Exchange Association, signifies that EOS can be traded on regulated exchanges within Japan. Notably, the trading of EOS against the yen will be initiated in September on the BitTrade exchange.
Asian Market: A Strategic Focus
ENF CEO Yves La Rose emphasized the strategic importance of entering the Asian market for EOS. He stated that Asia has always been a vital pillar for the EOS network due to its substantial number of tokenholders. La Rose further elaborated on the significance of this move, saying, “We strongly believe that the next wave of Web3 innovation will come in the form of blockchain-based gaming and GameFi. Asia is clearly a leader in that space.”
Japan’s status as a growing market with a well-established regulatory framework and a supportive government makes it an attractive destination for blockchain projects like EOS. La Rose pointed out that Japan’s regulatory clarity and oversight provide an “incredible opportunity” for the country to capture a significant market share. He also noted that Japan boasts numerous gaming intellectual properties that are “ripe for tokenization.”
Government Support for Web3
Japanese Prime Minister Fumio Kishida has recently reiterated the country’s commitment to Web3 technology. In a keynote address on July 25, Kishida highlighted Web3’s potential to drive social change and transform the internet. He went as far as describing Web3 as a cornerstone of the “new form of capitalism.” This signals a supportive environment for blockchain and cryptocurrency projects in Japan.
Preserve This Moment with NFT
In conclusion, EOS’s regulatory approval in Japan marks a pivotal moment in the cryptocurrency industry. It opens up new opportunities for EOS in the Asian market, particularly in the realms of blockchain gaming and GameFi. With the support of the Japanese government and Prime Minister Kishida’s endorsement of Web3, the future looks promising for EOS in Japan.
As a testament to the significance of this development, you can consider collecting this article as an NFT (Non-Fungible Token) to preserve this moment in history. By doing so, you not only commemorate EOS’s achievement but also show your support for independent journalism in the crypto space.
