After clearing the requirements of well-known tough national regulators, Enjin coin became the first game cryptocurrency approved by Japan. By cooperating with Hashport, you can turn on the green light.

ENJ will be listed on Coincheck on January 26

According to the announcement, Japan’s official cryptocurrency regulator, Japan Virtual Currency Exchange Association (JVCEA), granted enjin coin (ENJ) legal status.

The blockchain gaming platform stated that its token will be listed on Coincheck on January 26, 2021, allowing Japanese users to buy it in Japanese yen and trade with Bitcoin (BTC). After the news came out, ENJ soared 71%, and is currently trading at $0.4385.

Enjin CEO Maxim Blagov pointed out that this move allows the entire Japanese industry to expand the blockchain gaming culture:

From Super Mario to Pokémon and Final Fantasy, Japan is the birthplace of pioneering games that have a lasting place in popular culture. Japan’s innovation culture is closely related to Enjin’s culture. We believe that some of the best blockchain games in the world will come from the Japanese game industry, and we will be there to help them make the most of this powerful technology.

The “strict review procedure” required by JVCEA

JVCEA is a self-regulatory organization recognized by the Japanese Financial Services Agency (FSA). The company stated that encryption projects must go through a “rigorous process” like Enjin. Seihaku Yoshida (Seihaku Yoshida), CEO of Hashport, supported Enjin through its Accelerator and provided more details about the approval process:

Enjin made a bold promise when he entered the Japanese market in 2019. He is determined to develop his business in this field regardless of market conditions. After more than a year of due diligence, the approval and listing of Enjin Coin on Coincheck is an important milestone for Enjin and its adoption of its blockchain platform in Japan.

ENJ first announced in 2017, and the team launched the mainnet of the platform in 2018 the following year. The Enjin project also utilizes non-fungible token (NFT) technology.

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As reported on December 19, 2020, a study conducted by cryptocurrency exchange surveyed 29,574 users and the results showed that 47% of journalists had heard of NFT. Of these tools, 63% have only a basic understanding of them, and 57% have never used them.

What is your opinion on Enjin’s announcement? Let us know in the comments section below.

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