Tokyo, Japan, April 7, 2023, Chainwire
Japan Virtual and Crypto Assets Exchange Association (JVCEA) Green Listing Significantly Accelerates Listing of Tokens on Member Exchanges, Accelerating Adoption
Astar Network, a smart contract platform for multi-chain, officially announces the listing of its native ASTR token on Huobi Japan, which has now become the third crypto exchange in Japan to list ASTR after Bitbank and GMO Coin. Following this listing, the Japan Virtual and Crypto Assets Exchange Association (JVCEA) registered the ASTR token on its “green list”.
The JVCEA, a group of 31 crypto exchanges, introduced the greenlist to speed up listing on Japanese exchanges and boost crypto adoption in Japan. Previously, JVCEA members’ exchanges had to go through a slow screening process to list any cryptocurrency. Green listed assets are not subject to the screening process as they have already been rigorously screened by three or more member exchanges.
Sota Watanabe, Founder of Astar Network, said, “As Astar has a significant presence in Japan and many companies are entering Web3 with Astar, joining the green list is a huge step not only for us but also for Japanese companies. It is much faster to list ASTR on other Japanese exchanges. We continue to work with regulators to use ASTR in Japan more quickly.
The ASTR token made it to the greenlist after meeting the four JVCEA requirements:
- Managed by 3 or more member exchanges
- Managed by at least one exchange for more than 6 months
- Crypto assets for which the JVCEA has not defined any ancillary conditions for their treatment
- Other crypto assets for which there is no reason the Association considers it inappropriate to be included in this list
On Huobi Japan, users will be able to purchase ASTR using Japanese Yen from April 12. Traders and investors who buy ASTR on Huobi Japan will be able to transfer the token to any supported wallet they want.
Astar Network is the go-to blockchain for developers and enterprises wishing to explore the Japanese Web3 space. It is also the first public blockchain in the country to be listed there despite Japan’s strict listing regulations. Astar’s native token, ASTR, is registered as a cryptocurrency, not a security, by the Japanese government.
About Astar Network
Astar Network supports building dApps with EVM and WASM smart contracts and offers developers true interoperability with Cross Consensus Messaging (XCM) and Cross Virtual Machine (XVM). Astar’s unique Build2Earn model allows developers to get paid through a dApp staking mechanism for their code and the dApps they build.
One of the first parachains to come to the Polkadot ecosystem, Astar is a dynamic network that is backed by all major exchanges and Tier 1 VCs. Astar offers the flexibility of all Ethereum and WASM tools for developers to start create their dApps. To accelerate growth on the Polkadot and Kusama networks, Astar SpaceLabs offers an incubation hub for the best TVL dApps.
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