In a series of developments that highlight the growing significance of the Japanese cryptocurrency market, both the EOS Network Foundation and Binance Japan have announced major strides in expanding their presence in the country.
The EOS Network Foundation on Wednesday announced that the EOS (CRYPTO: EOS) token has received whitelist approval from the Japan Virtual and Crypto Asset Exchange Association (JVCEA).
This green light paves the way for EOS to be traded against the Japanese yen on regulated cryptocurrency platforms in Japan.
Starting in mid-September, the token will be listed on BitTrade, a cryptocurrency marketplace regulated by Japan's Financial Services Agency (FSA).
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Yves La Rose, Founder and CEO of the EOS Network Foundation, expressed his optimism, stating, "This monumental approval from the JVCEA not only affirms EOS's unwavering commitment to compliance but also opens up new avenues in the Japanese market."
On the other hand, Binance Japan, which recently rolled out its comprehensive suite of services, has set an ambitious goal to expand its token offerings.
The company aims to triple its current list, targeting a total of 100 tokens in the near future.
This announcement was made during a virtual briefing, where the company also expressed its intent to partner with other local cryptocurrency exchanges to boost market liquidity.
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