Japanese cryptocurrency exchanges are reportedly moving to increase competition with foreign crypto trading platforms by planning to simplify the process of listing new cryptocurrencies. The Japan Virtual and Crypto Assets Exchange Association (JVCEA), a self-regulatory body of 31 local crypto exchanges, is preparing to release a “green list” of 18 widely-accepted cryptocurrencies in late March, local news agency Nikkei reported on Tuesday. The green list aims to spare Japanese crypto exchanges from having to screen cryptocurrencies with the JVCEA each time before listing coins on their trading platforms. The digital assets included in the green list will no longer be …

Analyzing the labor market is a passion of mine. In my past life, I worked as a labor market analyst for a Canadian think tank specializing in the IT sector. Tech employees always enjoyed higher demand, higher pay and lower jobless rates than workers in the rest of the economy. Although blockchain and crypto were virtually nonexistent during my tenure, these emerging technologies are now leading exponential growth for an industry evolving from Web2 to Web3. This week’s Crypto Biz newsletter highlights the growing demand for crypto professionals in the traditional finance and payment industries. We also survey the latest …

Kyash, a Tokyo-based digital wallet, announced a $41.2 million usd, or 4.9 billion yen, raise in a Series D round. Since launching in 2015, the cashless mobile app and corresponding credit card has grown its total funding to an estimated $108 million, or 12.8 billion yen. Both global investors and Japanese banks joined the round, including Japan Post Investment Corporation, Jack Dorsey's Block, which is formerly known as Square, as well as Altos Ventures Goodwater Capital and StepStone Group in the U.S. Additional investment came from Greyhound Capital in the U.K., SMBC Nikko Securities, JAFCO Group, Mitsui Sumitomo Insurance Capital …

Amid the United States and the European Union taking measures to prevent Russia from using cryptocurrencies for potential evasion of sanctions, some countries in Asia have also been moving to respond to the situation. Japan to fine crypto exchanges for violating sanctions Japan became the latest country in Asia to call cryptocurrency firms to comply with sanctions against Russia, requesting them on Monday to not process crypto transactions involving sanctioned individuals or entities in Russia and Belarus. The Japanese Financial Services Agency (FSA) and the Ministry of Finance issued a joint statement on sanctions against Russia, stressing that crypto is …

In a move that may suggest growing institutional interest in cryptocurrencies and NFTs, Nomura Holdings has announced it is establishing a new digital assets team to look into possible opportunities in the asset class. The wealth management company said that it was restructuring its Future Innovation Company into a brand new Digital Company, which will begin operations in April. The main objective of the new company will be to increase clients' use of digital assets and provide related services. Nomura Group President and CEO said, Kentaro Okuda said: "The new Digital Company will lead deeper collaboration among internal and external …

Major Japanese e-commerce firm Rakuten has announced the launch of its own nonfungible token (NFT) trading platform dubbed Rakuten NFT. The firm initially revealed its plans to launch a proprietary NFT marketplace in 2021 amid the growing popularity of non-fungible tokens worldwide. According to Rakuten, the NFT marketplace also hosts a platform that allows IP owners to create their own websites for issuing and selling NFTs. Cointelegraph contacted the Rakuten team for further information on the development, and this story will be updated as more details become available. With a population of over 126 million and a renowned pop culture …

Japan’s biggest financial conglomerate, Mitsubishi UFJ Financial Group (MUFG), will abandon its three-year-old blockchain payment project to focus on other digital and fintech initiatives. MUFG officially announced Tuesday the suspension of Global Open Network (GO-Net) Japan, a blockchain-based project aiming at high scalability and multi-connectivity data processing “in response to the rise of the internet of things.” The project was officially introduced back in February 2019, with MUFG joining forces with the United States content delivery network Akamai, planning to create a payment service featuring multiple functions like communication and “management of value through blockchain.” The initiative was first announced …

Japan Exchange Group (JPX), the Tokyo Stock Exchange and Osaka Exchange owner, warned the public against companies that are misleading Japanese investors by selling crypto assets under the JPX brand. JPX issued the alert after receiving reports about an ongoing attempt to dupe unwary investors into trading Bitcoin (BTC) and cryptocurrencies on platforms misrepresented as JPX or one of its subsidiaries. Alert on trading in crypto assets using similar names to JPXhttps://t.co/CVrvpA0dNE — Japan Exchange Group EN (@JPX_official_EN) February 8, 2022 The company highlighted that the fraudulent companies in question are replicating JPX names, logos and URLs in various forms …

Anime and Animoca Brands Blockchain gaming and Metaverse company Animoca Brands has launched a strategic subsidiary in Japan after raising $10 million in seed funding. The new subsidiary, named Animoca Brands KK, plans on expanding popular Japanese content into NFTs, the Metaverse, and fungible tokens through Web3 applications. The content includes anime such as My Hero Academia and Dragon Ball, games, art, sports, and others. Funds for this latest expansion were raised in a $10 million seed round led by Japanese investment firm MCP Asset Management’s MCP IPX One Fund. Animoca Brands co-founder and executive chairman Yat Siu told Cointelegraph …

Mitsubishi UFJ Financial Group, Japan’s largest financial group, is working hard to take the lead in stablecoin development, launching a proprietary stablecoin project. On Wednesday, MUFG introduced its stablecoin platform called “Progmat Coin,” a blockchain-based system for issuing and managing stablecoins pegged on a 1:1 ratio to the Japanese yen. The platform aims to enable a “universal digital asset payment method,” providing cross-chain interoperability with a wide range of other digital assets other than those issued on Progmat, as well as Japan’s central bank digital currency, the digital yen. According to the announcement, the Progmat Coin project is based on …

Users of Japanese messaging giant LINE will soon be able to use the app’s native token for payments at select online merchants in a limited trial. In a Tuesday announcement, the LINE Corporation said that starting on March 16, users would have the option of paying with native LINK token (LN) — not to be confused with Chainlink (LINK) — at any of LINE Pay’s online merchants. The trial period, which will run until Dec. 26, is aimed at testing real-life use cases for the tokens in addition to increasing the convenience and number of payment options for users. LINE …

Japanese trading house Mitsui is reportedly planning to issue a cryptocurrency pegged to gold, local news agency Nikkei Asia reported Friday. Called ZipangCoin (ZPG), Mitsui’s new digital currency will reportedly be issued as early as February and will be available to retail investors through cryptocurrency exchanges. The stablecoin will be linked to gold prices at yen-denominated prices by Mitsui from the London Metal Exchange, with one ZPG valued equivalent to one gram of gold and guaranteed by Sumitomo Mitsui Banking. According to the report, the new gold stablecoin will be initially offered through Mitsui’s proprietary crypto exchange and later made …