First approved gaming token in Japan

Enjin Coin rises 71 per cent: First approved gaming token in Japan.

The asset was recently approved for trading by Japan Virtual Currency Exchange Association JVCEA.

On 19 January, the blockchain-based Enjin Coin (ENJ) became the first gaming cryptocurrency to be approved for Anon System trading by Japan Virtual Currency Exchanges Association JVCEA.

The value of the coin rose by 71 per cent in just 9 hours. The ENJ exchange rate grew from 0.236340 US dollars to a 3-year high of 0.406356 US dollars.
ENJ/USD. Source: CoinMarketCap.com.

„Enjin Coin has been approved by the JVCEA and is listed on the Coincheck exchange. This makes it the first gaming token approved for use in Japan,“ according to the official Enjin announcement on 19 January.

From 26 January, Enjin Coin will be the first gaming token listed on Coincheck, and one of a total of 15 digital currencies, including the likes of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and more.

ENJ can be bought with JPY and traded against BTC

Enjin’s entry into the Japanese market was supported by Hashport Accelerator. Seihaku Yoshida, CEO of HashPort, commented:

„Enjin was determined to enter the Japanese market in the year. The company aims to grow its business in this area regardless of market conditions. After more than a year, the approval and listing of Enjin Coin on Coincheck is an important milestone for Enjin and the acceptance of its blockchain platform in Japan.“

Maxim Blagov, Enjin’s CEO, said the company hopes to reap the benefits of setting up shop in one of the world’s busiest gaming markets, as well as the country’s renowned technological innovation:

„From Super Mario to Pokémon to Final Fantasy, Japan is home to groundbreaking games that hold an eternal place in pop culture. The Japanese culture of innovation aligns directly with Enjin’s. We believe that some of the best blockchain games in the world will come from the Japanese gaming industry, and we will help them make the most of this powerful technology.“

Enjin Coin was first announced in 2017. The project launched its mainnet the following year. In 2019, Enjin made headlines after it was announced that Enjin Coin would be a pre-installed application on the then newly released Samsung Galaxy S10.