OKCoin Japan Announces Cardano Can Now Be Bought With Japanese Yen
OKCoin Japan, the Japanese arm of one of the world’s major crypto exchanges, has announced the listing of ADA, the Cardano blockchain’s main asset. On September 1, all interested investors will be able to trade the cryptocurrency against Japan’s national currency, the yen, on the Japanese market.
The addition of ADA in the OKCoin Japan listing appears to be a reasonable step, given that Cardano is ranked ninth among the major crypto projects by market capitalization.
In addition to ADA, the Japanese exchange has previously listed BTC, ETH, XRP, and a handful of smaller cryptocurrencies. On OKCoin Japan, crypto fans can trade a total of 17 pairs.
The listing of ADA on one of Japan’s main exchanges will undoubtedly benefit the project, both in terms of Cardano’s visibility and funding. Because of the low returns on traditional financial markets, the Japanese are very interested in alternative investment options.
Furthermore, Japanese companies and the government are generally supportive of the new digital economy, which contributes to the freedom of cryptocurrency circulation.
XRP, for example, is quite popular in Japan, in addition to the two big cryptocurrencies Bitcoin and Ethereum. Banks are even introducing XRP rewards programs to entice new customers, and major e-commerce companies are accepting cryptocurrencies as payment.
The support of one of the country’s leading financial conglomerates, SBI, whose president also served on Ripple’s Board of Directors, aided the acceptance of XRP in Japan.
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