Cardano (ADA), the third-largest cryptocurrency by market capitalization, will be live in a few hours’ time on a Japanese exchange for the first time.
This has been seen as a major height for Cardano (ADA) to attain this year, considering the high level of regulation in Japan. This is counted as a huge achievement for Cardano as Japan is regarded as a country with one of the most demanding listing criteria across the world.
There were just a handful of cryptocurrencies certified for exchange listing in Japan and Cardano (ADA) has currently joined the list.
The slated date for the launch of Cardano (ADA) on the top Japanese exchange, Bitpoint, is 25th August at 8:30 AM Local Time, after maintenance from 6:00 AM to 8:30 AM. The cryptocurrency will be provided as a physical transaction and will be handled by Bitpoint.
Significance of the Listing
From the onset, Japan has been crypto-friendly. However, the country has strict regulations for digital currency. Cryptocurrencies on the Japanese markets come under rigorous scrutiny to protect their citizens.
The new approval now makes Cardano (ADA) join the list of cryptocurrencies on Japanese exchanges, such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Listings such as this are uncommon, which is why it’s expected to boost Cardano (ADA) reputation in Japan and worldwide.
Meanwhile, Cardano (ADA) has seemingly secured its place as the third-largest cryptocurrency by market capitalization. As the Cardano community expects the mainnet launch of Alonzo, which will bring smart contracts functionality to the Cardano network, ADA is expected to keep printing more gains.