EOS Receives Regulatory Approval in Japan, Expanding Adoption in East Asian Markets
TOKYO, Japan – The EOS Network Foundation is delighted to announce a significant development in EOS’ journey towards widespread adoption and accessibility. The EOS token has been granted whitelist approval by the Japan Virtual and Crypto Asset Exchange Association (JVCEA). This momentous achievement paves the way for EOS to be traded against the Japanese yen on regulated cryptocurrency exchanges in Japan.
The authorization from JVCEA signifies a substantial leap forward, granting the EOS Network greater exposure and accessibility to a broader range of Japanese end users, developers and investors. EOS will begin trading in mid-September on BitTrade, a premier cryptocurrency marketplace licensed and regulated by the country’s Financial Services Agency (FSA).
The stringent regulatory framework governing digital tokens in Japan is widely recognized for its robustness and rigor. Under the Payment Services Act, the JVCEA and FSA closely monitor and regulate crypto-asset providers, requiring a thorough pre-screening process for new digital assets. The EOS Network’s compliance with these stringent regulations underscores its commitment to transparency, security, and innovation.
“Securing regulatory approval from the JVCEA is a monumental achievement for EOS, affirming our steadfast commitment to compliance. This landmark approval ushers in new prospects for EOS in the Japanese market, fostering stronger connections with discerning businesses and developers seeking robust blockchain solutions, in particular within the gaming industry. We are poised for the opportunities that lie ahead and are dedicated to driving adoption and innovation across East Asian markets and beyond,” says Yves La Rose, Founder and CEO of the EOS Network Foundation.
The network is already seeing a surge in popularity and usage in the Japanese market with the successful expansion of Upland, built on EOS and one of the industry’s largest metaverses, to include Tokyo. With a track record of five years of mainnet operation without any downtime, coupled with a world class Ethereum Virtual Machine boasting unmatched performance, EOS has established a strong reputation among blockchain enthusiasts and developers.
This approval demonstrates the recognition of the EOS Network’s reliability and performance, paving the way for further growth and adoption in East Asian markets. With strong partnerships and a proven track record, EOS is poised for continued success in the region, solidifying its position as one of the leading blockchains globally.
EOS Network
The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions, purpose-built for enabling optimal Web3 user and developer experiences. EOS is the Antelope framework’s flagship blockchain and financial center, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).
EOS Network Foundation
The EOS Network Foundation (ENF) was forged through a vision for a prosperous and decentralized future. Through our key stakeholder engagement, community programs, ecosystem funding, and support of an open technology ecosystem, the ENF is transforming Web3. Founded in 2021, the ENF is the hub for EOS Network, a leading open-source platform with a suite of stable frameworks, tools, and libraries for blockchain deployments. Together, we are bringing innovations that our community builds and are committed to a stronger future for all.
