Cardano Finally Listed in Japan, Amidst Other Exciting Developments
Cardano is now available for trade on Japanese exchanges, in a country that is very well known for its strict crypto regulations. In other important developments, Cardano appears to be breaking strides with new partnerships.
Cardano Joins Elite List
In recent years, Cardano has risen through the ranks with consistent steady developments, to become the third-biggest cryptocurrency in the world. Worth about $0.13 this time last year, the token has risen by more than 1900 percent to record an ATH of $2.97 barely 24 hours ago.
2021 has been a very good year for Cardano and continues to be. On Wednesday, Sebastien Guillemot, co-founder of dcSpark and Cardano’s PM at EMURGO, announced that Cardano would be joining a limited list of tokens available for trades on Japanese exchanges.
Japan, with a population of more than 130 million people, is known for its strict crypto regulations. Before now, only a short list of coins including Bitcoin, Stellar, Ethereum, Polkadot and Ripple were allowed listing on Japanese exchanges, with Bitcoin Cash, Litecoin, Basic Attention Token, NEM, and Tezos making up the elite list.
As of August 25, 2021, Cardano firmly joins the list of tokens granted regulatory approval in Japan.
Listing processes for Cardano began in early August, according to Guillemot who is also the current CTO of dcSpark. In the early hours of Wednesday, Japanese exchange BitPoint announced it was now offering Cardano (ADA) trading pairs on its platforms, getting Guillemot and Cardano’s founder, Charles Hoskinson, excited.
“ADA launching in Japan in ten minutes,” Hoskinson tweeted. “I've waited a very long time for this day. Congratulations and thanks to the community there.”
Coinfirm and dcSpark: Cardano Inks More Partnerships
In other developments, product-based DLT company dcSpark plans to develop the first sidechain project on Cardano. DcSpark’s sidechain project, led by Guillemot and other developers, will make ADA compatible with EVM (Ethereum Virtual Machine).
The protocol, termed Milkomeda, will first be launched on Cardano, using wrapped ADA (wADA), before being made compatible with non-EVM chains as well.
Milkomeda has been specifically created to address the lack of strong userbases, media hype and high community involvements, which is often associated with new cutting-edge blockchain technologies, like Cardano and Polkadot. Ethereum remains one of the biggest cryptocurrencies driven by a large unwavering community, and Milkomeda protocol hopes to help newer blockchains in that regard.
In its bid for expansion and adoption, Cardano Foundation is also partnering with anti money-laundering analytics company, Coinfirm. Cardano would be integrating AML and CFT (Combating the Financing of Terrorism) to ensure the integrity of the network.
“AML/CFT analytics is essential for a cryptocurrency to receive mass adoption within regulated markets,” Coinfirm said in its statement. “The tools and services provided by Coinfirm enables every exchange, custodian, and all other third-parties to clearly track the history of ADA held in their wallets.”
Cardano (ADA) trades at $2.77 at press time.
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