ENJ to become official entrant of Japanese crypto market

JVCEA gives green signal to ENJ
  • The coin is trading at $0.4385, as per the market data
  • ENJ first established its footprints in 2017 
  • The Enjin team launched the platform’s mainnet in the year 2018 

ENJ will be trading at Japan’s crypto market from January 26, 2021. Enjin has surpassed all the difficult parameters set by the Japanese Crypto watchdog. It is one of the momentous moments for the company to have showcased its official entry in the country.

JVCEA gives green signal to ENJ

Japan’s cryptocurrency watchdog has given a green signal to Enjin coin (ENJ). The country’s Virtual Currency Exchange Association (JVCEA) is the official regulator of the cryptocurrency, and they have granted legal status to ENJ. 

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ENJ, a blockchain gaming platform is the first gaming cryptocurrency that has been approved by Japan after clearing the stringent requirements of Japan’s regulators who are known for their harsh and rigorous checks. 

According to ENJ, its token would be listed on Coincheck on January 26, 2021. The Japanese users will now be able to buy it with Yen and trade with Bitcoin (BTC). After this news, the prices of ENJ showed a bullish trend and surged 71%. The coin is currently trading at $0.4385, as per the market data. 

Maxim Blagov, Enjin’s CEO, stated that this circulation would permit the growth of the blockchain gaming way throughout the Japanese industry. He similarly defined that from exquisite Mario to pokemon and very last fantasy, Japan is domestic to pioneering video games that preserve a long-lasting region in a pop way of life. The country’s innovative way of life is without delay related to Enjin’s. Blagov thinks that some of the world’s blockchain games will be from Japan, and it will also give leverage to this powerful technology. 

ENJ to step into Japanese crypto market 

Enjin is very optimistic about joining the Japanese crypto market. According to them, JVCEA is a self-regulatory organization. It is recognized by the Japanese Financial Services Agencies (FSA). Crypto initiatives need to take a hard fight.

Seihaku Yoshida, CEO, Hashport has given support to Enjin with their accelerator. He also shared some extra details on the approval process and said that Enjin had entered the Japanese market in 2019, which was a bold step. The company was determined to make its space in the Japanese market despite the unfavourable conditions. Now, after more than a year of hard work, Enjin coin gets the approval and listing on Coincheck. It is considered to be an essential milestone for Enjin. 

ENJ first established its footprints in 2017, and the platform’s mainnet was launched in the next year in 2018 by the Enjin team. The Enjin project also took advantage of the non-fungible token (NFT) technology.  According to the research-driven by crypto exchange crypto.com, they surveyed around 29,574 users. The survey discovered that 47% of correspondents realize approximately NFT and heard of it. Among those, 63% of them had the most straightforward fundamental information about it, at the same time as 57% had by no means used it before. 

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Andrew Smithhttp://thecoinrepublic.com
Andrew is a blockchain developer from his education and developed his interest in the cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer.

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