Coinbase Japan adds ADA support.
ADA Is Now Listed For Trading On Coinbase Japan.
Coinbase Japan has listed Cardano’s native token ADA for trading per a tweet from the crypto exchange today.
— Coinbase Japan (@CoinbaseJapan) November 22, 2022
Consequently, Japanese residents will now be able to trade the cryptocurrency on the mobile app or the desktop version of the exchange. In addition, the crypto exchange says it is running a promotional campaign for users to celebrate the listing.
It comes about two weeks after the crypto exchange promised to elevate the Coinbase experience for its Japanese customers in a blog post. Pledging to list new tokens as fast as possible in line with regulations, it has now added AVAX and ADA to the list of tokens it supports.
With the latest listing, Coinbase Japan brings the number of cryptocurrencies listed on its exchange to 16. It has almost tripled the number of assets it supports this year, listing five tokens in September alone. The current list of assets supported includes:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Stellar Lumens (XLM)
- Bitcoin Cash (BCH)
- Polkadot (DOT)
- Chainlink (LINK)
- Enjin Coin (ENJ)
- OMG Network (OMG)
- Ethereum Classic (ETC)
- Basic Attention Token (BAT)
- Maker (MKR)
- The Sandbox (SAND)
- Avalanche (AVAX)
- Solana (SOL)
- Cardano (ADA) NEW!
The crypto exchange appears to be taking advantage of simplified Japanese listing processes under crypto-friendly Prime Minister Fumio Kishida’s administration. Notably, Kishida believes Web 3 will create an avenue for economic growth for Japan, CoinPost reported.
The previous listing regime took months to complete the listing of a single token. However, Japan Virtual and Cryptoassets Exchange Association (JVCEA) is now trying to relax the process, creating a list of 18 cryptocurrencies dubbed the “green list.” In addition, it will revealed plans to exclude itself from listing processes and police the assets after they have been listed.
However, exchanges must submit plans to list new tokens with the Financial Services Agency.
Unsurprisingly, users have welcomed the ADA listing on Coinbase with excitement.
In response to the development, Cardano Foundation Centralized Finance and Decentralized Finance Relationship Manager John Macpherson tweeted, “Thank you for supporting Cardano.”
Cardano’s ADA was first listed in Japan by Bitpoint in August 2021.