3 September 2021, OKCoin Japan Exchange announces its official listing of IOST.
The listing of IOST on OKCoin Japan marks IOST’s next important milestone in its global expansion and adoption. Specifically in Japan, in 2020, IOST has been approved by Financial Services Agency (FSA), the Trading platforms supervision Alliance in Japan, successfully become the 14th compliant token on Coincheck and the 29th compliant token in the Japanese market.
The deposit of IOST will be open on Friday, September 10th, 2021. 17:00 (JST). Trading of IOST will be open on September 15, 2021 (Wednesday), 17:00 (JST)
Click here to read more about IOST’s robust growth in the Japanese market
IOST’s Latest News
IOST has unveiled multiple great news one after another in the past week. Here are just a few of them
Japan, the “cryptocurrency paradise” on the line
As early as 2017, Japan planned to increase its cashless settlement ratio to 40% within 10 years. Bitcoin, with its impact on the financial system, is therefore regarded as a strategic resource in Japan.
After the Japanese yen failed to challenge the international status of the US dollar in the 1980s, Japan immediately began to study the world monetary system and digital currencies and constantly seeks to shake the global monetary system which is dominated by the United States. Before digital currencies became mainstream in the world, Japan has already shown a fanatical and radical posture and even led the global digital currency trend with the introduction of its various measures.
Today, Japan is the world’s second-largest digital asset trading market, with more than 6.2 million digital asset investors. Besides, affected by the spread of the global pandemic, Japan has launched an economic stimulus plan of 100 billion yen, accounting for nearly 20% of Japan’s GDP, which is much higher than the US version of the economic stimulus plan launched by the Trump administration. In this context, Japanese traders’ demand for digital asset trading has increased significantly, and the scale of the digital asset trading market will also further expand.
The Japanese market is strictly regulated with high barriers to entry
Japan was the first country where the government legalized digital asset transactions, and it was the first country to formulate regulatory provisions legally.
In March 2016, the Japanese Cabinet voted to consider Bitcoin and other digital currencies as digital equivalent currencies, becoming the first country to provide legal protection for cryptocurrency transactions. In April 2017, Japan implemented the “Payment Services Act” to incorporate digital currencies into the legal regulatory system, and officially recognized Bitcoin as a legal payment method. With this, Japan has been at the forefront of global digital asset compliance.
As the country with the most compliant trading platforms in the world, Japan is also a pioneer in creating digital asset regulatory systems. The Financial Services Agency of Japan is responsible for the supervision of the Japanese digital currency market and stipulates that digital currency trading platforms need to apply for licenses to operate in compliance. In recent years, the regulatory system has repeatedly upgraded and raised the threshold. The highly compliant and strictly regulated Japanese market is also highly recognized by global crypto investors.
High fees and slower transaction times on the Ethereum network have left the door open for new solutions to emerge, and IOST is one such project that has been gaining traction since its mainnet launch in 2019.
Backed by major financial and VC firms such as Sequoia, Matrix, and ZhenFund, IOST is a pioneering decentralized, high-throughput, gas-efficient Proof-of-Believability-powered smart contract platform built to tackle the scalability trilemma once and for all. For this, the concluding ranking from China’s CCID ranked IOST as the best blockchain platform under Basic Technology, better than Ethereum, EOS, and every other smart-contracting platform evaluated by the agency. This is a testament to the quality and ability to roll out a better, innovative product and reflective of our true desire to be the best in the sphere.
Being one of the public chain leaders in terms of adoption, performance, and utility, IOST remains committed to our mission to unleash the power of blockchain. IOST currently has the ever-expanding 500,000 community members in over 20 countries, over 400 nodes, a top staking economy, symbiotic relationships with corporations dotted worldwide.
If you would like to hang out with the IOST community on chat, social media, or to discuss product development, we have something for everyone: